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[Cites 0, Cited by 0] [Section 20(1)] [Section 20] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 20(1)(c) in Jammu and Kashmir Chit Funds Act, 2016

(c)transfer in favour the Registrar such other securities, being securities in which a trustee may invest money under section 20 of the Trusts Act (Samvat 1977) of such value, as may be prescribed by the Government from time to time ; Provided that the value of the securities referred to in Clause (c) shall not in any case, be less than one and a half times the value of the chit amount.