Chapter X -Officers, Inspection and Fees

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The Madras Chit Funds Act, 1961

Chapter X

OFFICERS, INSPECTION AND FEES

Appointment of Director of Chits, Inspecting Officers, Registrars and Chit Auditors:-

  1. The Administrator may, by notification, appoint a Director as may be necessary for the purpose of discharging the duties imposed upon the Director Chits, the Inspecting Officers and the Registrars by under this Act or the rules made thereunder.
  2. The Director of Chits may appoint as many be necessary for the purpose of discharging the duties imposed upon the Chit Auditors by or under this Act or the rules made thereunder.
  3. All the Inspecting Officers, Registrars and Chit Auditors shall discharge the duties imposed upon them by or under this Act or the rules made thereunder under the general superintendence and control of the Director of Chits.
  4. If the Registrar is of the opinion that the accounts of any chit are not properly maintained and that such account should be audited, it shall be lawful for him to have such accounts audited by a Chit Auditor. It shall be the duty of the foreman of the chit concerned to produce before the Chit, Auditor all accounts, books and other records relating to the chit, to furnish him with such information as may be required and to afford him all such assistance and facilities as may be necessary or reasonable and as may be required in regard to the audit of the accounts of the chit.
  5. The foreman shall pay to the Chit Auditor such fees as may be prescribed for the audit of the accounts of a chit under subsection(4).

52.Inspection of documents in the Registrar's office:- Any person may,on payment of such fees as may be prescribed:-

  1.  inspect the documents kept by the Registrar; and
  2.  obtain a copy or extract of any document to be certified by the Registrar.

53.Levy of fees:- There shall be paid to the Registrar such fees as the Administrator may,from time to time, prescribe for-

  1. the registration of the by-laws of a chit under section 3;
  2.  the grant of a certificate of commencement under section 7;
  3. filing with the Registrar of the chit agreement and copies of documents under sections 11, 20, 21, 29 and 32;
  4.  the inspection of documents under section 52;
  5. the certificate, copy of or extract of documents under section 52;
  6.  the audit of the accounts of the foreman and the issue of an audit certificate;
  7. such other matters as may appear necessary to give effect to the purposes of this Act.


A table of fees payable under sub-section (1) shall be published in the Delhi Gazette.

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