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State of Uttar Pradesh - Section

Section 28 in Uttar Pradesh Chit Funds Act, 1975

28. Restrictions on transfer of rights of a foreman.

(1)No transfer of the rights of a foreman to receive subscriptions from prized-subscribers shall be made without the previous sanction in writing of the Registrar.
(2)Any non-prized subscriber or unpaid prized subscriber claiming that his interest would be pre-judicially affected by any such transfer, may apply to the Registrar for setting aside the transfer and the Registrar on being satisfied in that behalf may, for reasons to be recorded, set it, aside.
(3)In any proceedings under sub-section (2) the burden of proving that the transfer is not likely to effect pre-judicially the interest of any subscriber challenging it shall bean the transferee.