Section 21(3) in The Goa, Daman and Diu Chit Funds Act, 1973
(3)All arrears of subscriptions realised from the substituted subscriber, less amount advanced by the foreman, foreman's commission, dividend allowed, shall before the date of the next succeeding instalment, be deposited by the foreman in an approved bank mentioned in the chit agreement. The foreman shall not withdraw the amount so deposited except for payment to the defaulting subscriber.Explanation. - For the purposes of sub-section (3), 'arrears of subscriptions' shall mean all the previous instalments realised from the substituted subscriber.
