Section 5 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
5. Penalty for other offences in connection with prize chits or money ... persons to participate in that prize chit or money circulation scheme or any other prize chit or money circulation scheme; or (d) brings, or invites
Section 6 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
6. Offences by companies.—
(1) Where an offence under this
Section 4 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
4. Penalty for contravening the provisions of section 3.—
Whoever contravenes
definition of "Prize chit" in Prize
Chits and Money Circulation Scheme (Banning) Act, 1978 are
to be read disjunctively--Phrase ... name called should be banned. Since prize
chits were called differently, "prize chits" benefit/ sav-
ings schemes, "lucky draws
Section 3 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
3. Banning of prize chits and money circulation schemes or enrolment ... participation therein.—
No person shall promote or conduct any prize chit or money circulation scheme, or enrol as a member to any such chit
Section 7 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
7. Power to enter, search and seize.—
(1) It shall be lawful ... purposes connected with the promotion or conduct of any prize chit or money circulation scheme in contravention of the provisions of this
Section 2 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
2. Definitions.—
In this Act, unless the context otherwise requires,— (a) “conventional ... demand draft, telegraphic transfer or money order; (c) “money circulation scheme” means any scheme, by whatever name called, for the making of quick or easy
Section 10 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
10. Offences under this Act to be cognizable.—
All offences punishable under
Section 9 in The Prize Chits and Money Circulation Schemes (Banning) Act, 1978
9. Power to try offences.—
No court inferior to that
entitled to organise its schemes in Madhya Pradesh as such schemes constitute " money circulation schemes " within the prohibition of Section ... scheme or arrangement by whatever name called; it may be called a savings scheme/ arrangement, mutual benefit scheme/arrangement, chit scheme/arrangement, (ii) there should
