Section 6 in Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979
6. Procedure for the Disposal of the plan or Application:
(1)On receipt of the application containing the statement of particulars and the winding up plan submitted by the promoter under sub-rule (1) of Rule 4 as the case may be, of the application for the extension of time submitted under Rule 5, the State Government shall cause it to be examined by the authorised officer or such other officer as it may deem fit.(2)On receipt of the comments of such officer and after consulting the Reserve Bank on the application for the winding up of the business of the existing schemes or as the case may be, on the application for extension of time for the winding up of such business the State Government may approve or disapprove the application for the proposed winding up of such business or approve with such modifications as it deems fit and may grant extension of time for such period as may be considered desirable in public interest and subject to such terms and conditions as may be deemed necessary or expedient (including the furnishing of security by the promoter for the repayment of the amounts due to the subscribers to the schemes) refuse to grant extension of time:Provided that no order modifying or rejecting the application containing the winding up plan or modifying or rejecting the application for extension of time for the winding up of the existing schemes shall be passed without giving to the promoter an opportunity of being heard.(3)The State Government shall maintain or cause to be maintained by the authorised officer, a register specifying the particulars such as the names of the promoters, the statements of particulars and winding up plans submitted, the periods for which extension of time have been granted, or the applications for extensions of time which have been rejected.
