Section 85 in Jammu and Kashmir Chit Funds Act, 2016
85. Act not to apply to certain chits.
- Nothing in this Act shall apply in respect of,-(a)any chit started before the commencement of this Act ; or(b)any chit the amount of which, or where two or more chits were started or conducted simultaneously by the same foreman, the aggregate amount of which does not exceed ten thousand rupees.
