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[Cites 0, Cited by 0] [Section 2] [Entire Act]

State of Tamilnadu - Subsection

Section 2(6) in Tamil Nadu Chit Funds Act, 1961

(6)"discount" means the sum or the quantity of grain, which a prized subscriber has under the terms of the chit agreement to forego and which is set apart under the said agreement to meet the expenses of running the chit or for distribution among the subscribers or for both;