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[Cites 0, Cited by 0] [Section 15] [Entire Act]

State of Kerala - Subsection

Section 15(6) in Kerala Chitties Act, 1975

(6)The Registrar may,
(a)at any time during the currency of the chitty, permit the substitution of the security:
Provided that such substituted security shall not be less than the security given by the foreman under sub-section (1); or
(b)on the termination of the chitty, release a part of the security:
Provided that the security left after release of the part is sufficient to satisfy the outstanding claims of all subscribers.