85. Act not to apply to certain chits
Nothing in this Act shall apply in respect of
(a)
any chit started before the commencement of this Act; or
(b)
any chit the amount of which, or where two or more chits were started or conducted simultaneously by the same foreman, the aggregate amount of which does not exceed [such amount as may be specified, by notification in the Official Gazette, by the State Goverment].
Amendment notes (1)
- Subs w.e.f. 1-1-2020 . Subs. by Act 41 of 2019, s. 9, for “one hundred rupees” (w.e.f. 1-1-2020).