Section 24 in The Goa, Daman and Diu Chit Funds Act, 1973
24. Prized subscribers to give security.
- Before receiving the prize amount without deducting all future subscriptions, every prized subscriber shall furnish and the foreman shall take sufficient security, as provided in the explanation to clause (d) of sub-section (1) of section 13, for the due payment of future subscriptions and if the foreman is the prized subscriber, he shall give security for the due payment of future subscriptions to the satisfaction of the Registrar.
