Prohibition of invitation for subscriptions except under certain conditions
Section 5 of the Chit Funds Act, 1982 deals with prohibition of invitation for subscriptions except under certain conditions. No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document inviting the public to subscribe for tickets in any chit unless such notice, circular, prospectus, proposal or document contains a statement that the previous sanction required under section 4 ha The Act came into force on 02 Apr 1984.
No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document inviting the public to subscribe for tickets in any chit unless such notice, circular, prospectus, proposal or document contains a statement that the previous sanction required under section 4 has been obtained and the particulars of such sanction.
Section 5, The Chit Funds Act, 1982 (Act 40 of 1982).
Cross-references
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Questions about Section 5
What does Section 5 of the Chit Funds Act deal with?
Section 5 of the Chit Funds Act is headed "Prohibition of invitation for subscriptions except under certain conditions". No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document inviting the public to subscribe for tickets in any chit unless such notice, circular, prospectus, proposal or document contains a statement that the previous sanction required under section 4 ha
How do I find court cases under Section 5 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 5, section 5 Chit Funds Act 1982, section 5 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 5 of the Chit Funds Act, and has it changed?
Its own text turns on section 4 (Prohibition of chits not sanctioned or registered under the Act), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When did Section 5 of the Chit Funds Act come into force?
Section 5 of the Chit Funds Act, cited as Chit Funds Act 1982 5, 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.