(1)(sic).(2)(sic).(3)(sic).(4)(sic).(5)(sic).(6)"discount" means the sum or the quantity of grain, which a prized subscriber has under the terms of the chit agreement to forego and which is set apart under the said agreement to meet the expenses of running the chit or for distribution among the subscribers or for both;(7)"divided" means the share of a subscriber in the discount available under the chit a agreement for ratable distribution among the subscribers at each instalment of the chit;(8)"drawing" means ascertaining of the person of persons entitled to the prize amount at any instalment of a chit;(9)"firm" means a firm registered under the Indian Partnership Act, 1932 (Central Act IX of 1932);(10)"foreman" mans the person who under the chit agreement is responsible for the conduct of the chit and includes any other person discharging the functions of the foreman under section 30:Provided that no firm shall be a foreman unless such firm in registered under the Indian Partnership Act, 1932 (Central Act IX of 1932);(11)"Government" means the State Government;(12)"non-prized subscriber" does not include a subscriber who has defaulted in the payment of subscriptions due according to the terms of the chit agreement;(13)"prize amount" means the difference between the chit amount and the discount, and , in the case of a fraction of a ticket means the difference between the chit amount and the discount proportionate to the fraction of the ticket; and when the prize amount is payable otherwise than in cash, the value of the prize amount shall be the value at the time it becomes payable;(14)"prized subscriber" means a subscriber who has either received or is entitled to the prize amount;(15)"Registrar" means a Registrar appointed under sub-section (1) of section 51;(16)"subscriber" includes a person who holds a fraction of a ticket and also a transferee of a ticket or a fraction thereof by assignment in writing or by operation of law;(17)"ticket" means the share of a subscriber in a chit.
