LawgistThe Prize Chits and Money Circulation Schemes (Banning) Act
4Penalty for contravening the provisions of section 3
Whoever contravenes the provisions of section 3 shall be punishable with imprisonment for a term which may extend to three years, or with fine which may extend to five thousand rupees, or with both:
Provided that in the absence of special and adequate reasons to the contrary to be mentioned in the judgment of the court, the imprisonment shall not be less than one year and the fine shall not be less than one thousand rupees.
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All sections
- 1 Short title and extent
- 2 Definitions
- 3 Banning of prize chits and money circulation schemes or enrolment as members or participation therein
- 4 Penalty for contravening the provisions of section 3
- 5 Penalty for other offences in connection with prize chits or money circulation schemes
- 6 Offences by companies
- 7 Power to enter, search and seize
- 8 Forfeiture of newspaper and publication containing prize chit or money circulation scheme
- 9 Power to try offences
- 10 Offences under this Act to be cognizable
- 11 Act not to apply to certain prize chits or money circulation schemes
- 12 Transitional provisions
- 13 Power to make rules
- 14 Repeals and saving
