Section 26(4) in The Goa, Daman and Diu Chit Funds Act, 1973
(4)All consolidated payments of future subscriptions realised by a foreman shall be deposited in an approved bank before the date of the next succeeding instalment and the amount so deposited may be withdrawn only for payment of future subscriptions. When any property is acquired in lieu of the consolidated payment, it shall remain as security for the due payment of future subscriptions.
