(1) If the Registrar or any other officer authorised by him in this behalf, has reason to suspect that any person conducts, or is responsible for the conduct of, a chit in any place in contravention of the provisions of this Act, he may, for reasons to be recorded in writing and at any reasonable time, enter into and search such place, and may seize such books, registers, accounts or documents as may be necessary.
(2) The Registrar or officer authorised by him in this behalf, may apply for assistance to an officer in charge of a police station and take police officers to accompany and assist him in discharging his duties under sub-section (1).
(3) All searches under sub-section (1) shall be made in accordance with the provisions of the Code of Criminal Procedure, 1973 (2 of 1974).
(2) The Registrar or officer authorised by him in this behalf, may apply for assistance to an officer in charge of a police station and take police officers to accompany and assist him in discharging his duties under sub-section (1).
(3) All searches under sub-section (1) shall be made in accordance with the provisions of the Code of Criminal Procedure, 1973 (2 of 1974).
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More sections of this act
Section 1 · Short title, extent and commencement.Section 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.India Code, Government of India. Text fetched 19 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.