(3)Where it is proposed to refuse registration of a chit agreement for default in the payment of fee or in the filing of any statement or record, required to be paid or filed under the Act or these rules, the Registrar shall condone the said default, if he is satisfied on hearing the foreman that the default has occurred due to reasons beyond the control of the foreman or due to other bona-fide reasons, provided that the foreman has paid the fee or filed the necessary documents on or before the date of such hearing.
