Chapter I-Preliminary

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DELHI CHIT FUND RULES,1964
(As Published in Delhi Gazette Part-IV)
Dated 30.7.64, Page-435

No. F.40(2)/ 64-Labour :- In exercise of the powers conferred by section 63 of the Madras Chit Funds Act, 1961 as extended to the Union Territory of Delhi, the Chief Commissioner, Delhi, is pleased to make the following rules, namely the Delhi Chit Funds Rules, 1964--

Chapter 1

PRELIMINARY

1. Short title and commencement:-

  1.  These rules may be called the Delhi Chit Funds Rules, 1964.
  2.  These rules shall come into force at once.

(2). "Definitions- In the rules, unless the context otherwise requires-

  1.  "Act" means the Madras Chit Funds Act, 1961 as extended to the Union Territory of Delhi;
     
  2.  "agent" means a person duly authorised by a power-of-attorney executed and authenticate in the manner mentioned in section 33 of the Indian Registration Act, 1908 (Central Act XVI of 1908);
     
  3.  "Chit Auditor" means a person appointed by that designation under sub-section (2) of section 51 of the Act;
     
  4.  "Delhi" means the Union Territory of Delhi;
     
  5. "Director of Chits" means a person appointed by that designation under sub-section (1) of section 51 of the Act;
     
  6.  "form" means a form appended to these rules;
     
  7.  "Inspecting Officer" means a person appointed by that designation under sub-section (1) of section 51 of the Act;
     
  8. "Principal Officer" used with reference to a company means-
    ​​​​​​​
    1. the secretary, treasurer, manager or agent of the company or
    2. ​​​​​​​any person connected with the management or administration of the company upon whom the Registrar has served a notice of his intention of treating him as the principal officer there of; and
      ​​​​​​​
  9.  "Section" means a section of the Act.
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