(1)In these rules, unless the context otherwise requires.-(a)"Act" means the Chit Funds Act, 1982(Central Act 40 of 1982);(b)"Appendix" means Appendix as appended to these rules;(c)"authorised agent" means a person duly authorised by a power of attorney executed and authenticated in the manner specified in section 33 of the Registration Act, 1908 (Central Act, XVI of 1908) or a person authorised by a duly stamped power of attorney or a letter of authorisation specified in Form XVII by the person concerned;(d)"chit auditor" means a Chit auditor appointed under sub-section (2) of section 61 of the Act;(e)"Form" means a form appended to these rules;(f)"month" means a calendar month;(g)"section" means a section of the Act.(h)"cashless mode" means transactions carried out using cheque, demand draft or through electronic fund transfer as defined in clause (c) of sub section (1) of section 2 of payment and settlement systems Act, 2007 (51 of 2007), or by using internet, phone or card payment.(i)"security" means a security to be given by foreman in term of section 20 of the Act.
