(1) Subject to such conditions as may be prescribed, any officer empowered by the State Government in this behalf may, either before or after the institution of criminal proceedings under this Act, accept from the person who has committed or is reasonably suspected to have committed an offence under this Act, by way of composition of such offence, a sum of money not exceeding such amount as may be prescribed.
(2) Where an offence has been compounded under sub-section (1), the
offender, if in custody, shall be discharged and no further proceedings
shall be taken against him in respect of such offence.
Section 81 of Chit Funds Act - Power to compound offences
Section 82 of Chit Funds Act - Power to enter and search any place and to seize any documents
Section 83 of Chit Funds Act - Officers to be public servants
Section 84 of Chit Funds Act - Power to delegate
Section 85 of Chit Funds Act - Act not to apply to certain chits
Section 86 of Chit Funds Act - Banks not to conduct chit business
Section 87 of Chit Funds Act - Power to exempt
Section 88 of Chit Funds Act - Protection of action taken under the Act
Section 89 of Chit Funds Act - Power to make rules
Section 90 of Chit Funds Act - Repeal and saving