Section 23(3) in Uttar Pradesh Chit Funds Act, 1975
(3)All arrears of subscriptions realized from the substituted subscriber, less any amount advanced by the foreman, shall, before the date of the next succeeding installment, be deposited by the foreman in an approved bank mentioned in the chit agreement, in the name of the Registrar.Explanation. - For the purposes of this sub-section, arrears of subscription's shall mean all the previous installments realized, from the substituted subscriber.
