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Central · Act 40 of 1982

Section 1 — Short title, extent and commencement.

The Chit Funds Act, 1982

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STATUTORY TEXT
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(1) This Act may be called the Chit Funds Act, 1982.
(2) It extends to the whole of India 1***.
(3) It shall come into force on such date2 as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different States.

Source footnotes

1. The words “except the State of Jammu and Kashmir” omitted by Act 34 of 2019, s. 95 and the Fifth Schedule (w.e.f. 31-10- 2019).
2. The provisions of this Act shall come into force in--
the State of West Bengal on 2nd April, 1984, vide notification No. S.O. 143(E), dated 1st March, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Tamil Nadu on 13th April, 1984, vide notification No. S.O. 281(E), dated 12th April, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Himachal Pradesh on 1st November, 1984, vide notification No. S.O. 808(E), dated 29th October, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Sikkim on 6th November, 1984, vide notification No. S.O. 837(E), dated 14th November, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Andaman and Nicobar Islands on 1st July, 1985, vide notification No. S.O. 493(E), dated 27th June, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Pondicherry on 1st November, 1986 vide notification No. S.O. 771(E), dated 28th October, 1986 see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Rajasthan on 1st July, 1989 vide notification No. S.O. 481(E), dated 26th June, 1989, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Assam on 1st March, 1990, vide notification No. S.O. 166(E), dated 22nd February, 1992, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Manipur on 1st November, 1994, vide notification No. S.O. 779(E), dated 28th October, 1994, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Tripura on 1st March, 1995, vide notification No. S.O. 131(E), dated 1st March, 1995 see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Bihar on 2nd October,1987, vide notification No. S.O. 864(E), dated 28th September, 1987, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Punjab on 1st April, 1999, vide notification No. S.O. 204(E), dated 31st March, 1999, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Karnataka on 2nd January, 1984 vide notification No. S.O. 946(E), dated 30th December, 1983, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Chandigarh on 1st May, 1984, vide notification No. S.O. 322(E), dated 27th April, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Dadra and Nagar Haveli on 3rd September, 1984, vide notification No. S.O. 660(E), dated 30th August, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Orissa on 1st September, 1985, vide notification No. S.O. 629(E), dated 26th August, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Goa, Daman & Diu on 1st January, 1986, vide notification No. S.O. 910(E), dated 24th December, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Madhya Pradesh on 1st July 1986, vide notification No. S.O. 381(E), dated 27th June, 1986, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Meghalaya on 2nd January, 1988, vide notification No. S.O. 1135(E), dated 30th December, 1987, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Uttar Pradesh on 1st February, 1988, vide notification No. S.O. 133(E), dated 29th January, 1988, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of West Bengal on 2nd April, 1984, vide notification No. S.O. 143(E), dated 1st March, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Tamil Nadu on 13th April, 1984, vide notification No. S.O. 281(E), dated 12th April, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Himachal Pradesh on 1st November, 1984, vide notification No. S.O. 808(E), dated 29th October, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Sikkim on 6th November, 1984, vide notification No. S.O. 837(E), dated 14th November, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Andaman and Nicobar Islands on 1st July, 1985, vide notification No. S.O. 493(E), dated 27th June, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Pondicherry on 1st November, 1986 vide notification No. S.O. 771(E), dated 28th October, 1986 see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Rajasthan on 1st July, 1989 vide notification No. S.O. 481(E), dated 26th June, 1989, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Assam on 1st March, 1990, vide notification No. S.O. 166(E), dated 22nd February, 1992, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Manipur on 1st November, 1994, vide notification No. S.O. 779(E), dated 28th October, 1994, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Tripura on 1st March, 1995, vide notification No. S.O. 131(E), dated 1st March, 1995 see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Bihar on 2nd October,1987, vide notification No. S.O. 864(E), dated 28th September, 1987, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Punjab on 1st April, 1999, vide notification No. S.O. 204(E), dated 31st March, 1999, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Karnataka on 2nd January, 1984 vide notification No. S.O. 946(E), dated 30th December, 1983, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Chandigarh on 1st May, 1984, vide notification No. S.O. 322(E), dated 27th April, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Dadra and Nagar Haveli on 3rd September, 1984, vide notification No. S.O. 660(E), dated 30th August, 1984, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Orissa on 1st September, 1985, vide notification No. S.O. 629(E), dated 26th August, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the Union territory of Goa, Daman & amp; Diu on 1st January, 1986, vide notification No. S.O. 910(E), dated 24th December, 1985, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Madhya Pradesh on 1st July 1986, vide notification No. S.O. 381(E), dated 27th June, 1986, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Meghalaya on 2nd January, 1988, vide notification No. S.O. 1135(E), dated 30th December, 1987, see Gazette of India, Extraordinary, Part II, sec. 3(ii).
the State of Uttar Pradesh on 1st February, 1988, vide notification No. S.O. 133(E), dated 29th January, 1988, see Gazette of India, Extraordinary, Part II, sec. 3(ii).

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Next · Section 2Definitions. →All sections / सभी धाराएँThe Chit Funds Act, 1982 →
More sections of this actSection 2 · Definitions.Section 3 · Act to override other laws, memorandum, articles, etc.Section 4 · Prohibition of chits not sanctioned or registered under the Act.Section 5 · Prohibition of invitation for subscriptions except under certain conditions.Section 6 · Form of chit agreement.Section 7 · Filing of chit agreement.Section 8 · Minimum capital requirements for the commencement, etc., of a chit, and creation of a reserve fund, by a company.Section 9 · Commencement of chit.
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