Nothing in this Act shall apply in respect of
(a) any chit started before the commencement of this Act; or
(b) any chit the amount of which, or where two or more chits were started or conducted simultaneously by the same foreman, the aggregate amount of which does not exceed 1[such amount as may be specified, by notification in the Official Gazette, by the State Government].
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1. Subs. by Act 41 of 2019, s. 9,
for "one hundred rupees" (w.e.f. 1-1-2020).
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