(1)In these rules, unless the context otherwise requires.-(a)"Act" means the Chit Funds Act, 1982(Central Act 40 of 1982);(b)"Appendix" means Appendix as appended to these rules;(c)"authorised agent" means a person duly authorised by a power of attorney executed and authenticated in the manner specified in section 33 of the Registration Act, 1908 (Central Act, XVI of 1908) or a person authorised by a duly stamped power of attorney or a letter of authorisation specified in Form XVII by the person concerned;(d)"chit auditor" means a Chit auditor appointed under sub-section (2) of section 61 of the Act;(e)"Form" means a form appended to these rules;(f)"month" means a calendar month;(g)"section" means a section of the Act.(h)"cashless mode" means transactions carried out using cheque, demand draft or through electronic fund transfer as defined in clause (c) of sub section (1) of section 2 of payment and settlement systems Act, 2007 (51 of 2007), or by using internet, phone or card payment.(i)"security" means a security to be given by foreman in term of section 20 of the Act.(2)Words and expressions used in these rules but not defined herein shall have the same meaning respectively assigned to them in the Act.
