Restrictions on transfer of rights of foreman
Section 34 of the Chit Funds Act, 1982 deals with restrictions on transfer of rights of foreman. No transfer of the rights of a foreman to receive subscriptions from the prized subscribers shall be made without the previous sanction in writing of the Registrar. The Act came into force on 02 Apr 1984.
(1) No transfer of the rights of a foreman to receive subscriptions from the prized subscribers shall be made without the previous sanction in writing of the Registrar.
(2) Any transfer of the rights of a foreman to receive subscriptions from the prized subscribers shall, if it is likely to defeat or delay the interests of a non-prized or unpaid prized subscriber, be voidable at the instance of such subscriber.
(3) When under sub-section (2), a transfer is disputed by a subscriber, the burden of proving that the foreman was in solvent in circumstances at the time of the transfer and that the transfer does not defeat or delay the interests of such subscriber is on the transferee.
Section 34, The Chit Funds Act, 1982 (Act 40 of 1982).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 2
Questions about Section 34
What does Section 34 of the Chit Funds Act deal with?
Section 34 of the Chit Funds Act is headed "Restrictions on transfer of rights of foreman". No transfer of the rights of a foreman to receive subscriptions from the prized subscribers shall be made without the previous sanction in writing of the Registrar.
How do I find court cases under Section 34 of the Chit Funds Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Chit Funds Act 1982 34, section 34 Chit Funds Act 1982, section 34 of the Chit Funds Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 34 of the Chit Funds Act, and has it changed?
2 other provisions in this corpus refer back to it.
When did Section 34 of the Chit Funds Act come into force?
Section 34 of the Chit Funds Act, cited as Chit Funds Act 1982 34, came into force on 02 Apr 1984, having been enacted on 19 Aug 1982. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions795 words
- 6. Form of chit agreement577 words
- 22. Duties of foreman483 words
- 89. Power to make rules471 words
- 20. Security to be given by foreman428 words
- 67. Procedure for settlement of disputes and powers of Registrar or nominee419 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.