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[Cites 0, Cited by 0] [Section 63] [Entire Act]

NCT Delhi - Subsection

Section 63(2) in The Madras Chit Funds Act, 1961

(2)In particular and without prejudice to the generality of the foregoing power, such rules may provide for a regulate-
(a)all matters expressly required or allowed by this Act to the prescribed;
(b)the matters in respect of which provision shall be made in the bye-laws of a chit and the procedure to be followed in making, registering, altering and abrogating bye-laws, and the conditions to be satisfied prior to such making, registration, alteration or abrogation;
(c)the particulars which every chit agreement shall contain;
(d)the method of valuation of grains by the Registrar in a grain chit, for the purpose of security under Section 12;
(e)the restrictions and conditions subject to which and the manner in which, any security given by a foreman under Section 12 may be changed or submitted;
(f)the procedure to be followed by the Registrar for the release of security given by the foreman under Section 12;
(g)the maintenance of registers and books of accounts by the foreman, the safe custody of books, papers and documents in the Registrar's office and also for the destruction of such books, papers and documents as need no longer be kept;
(h)the procedure to be followed for the winding up of a chit under Chapter IX; and
(i)the auditing of the balance sheets and profit and loss accounts and the issue of audit certificates.