# The Chit Funds Act, 1982, Section 85: Act not to apply to certain chits

- Act: The Chit Funds Act, 1982 (Act 40 of 1982)
- In force from: 1984-04-02
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/chit-funds-act-1982/section/85/

## Text

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 Goverment].

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