Section 6, Chit Funds Act, 1982 [S1S-7BY]
As at 7 September 2026. In force from 18 September 1982.
6. Grant of licence.—(1) An application for a licence to undertake the carrying on of business shall be made to the Registrar in Form B, accompanied by a fee of one hundred rupees. (2) The Registrar may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Registrar may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (2)
business: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "business" includes every trade, occupation and profession
business: 13 more definitions.
Registrar: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "Registrar" means the Registrar appointed under section 3
Registrar: 79 more definitions.
Made under this section, or naming it (0)
none
Cited by (3)
Section 22, Chit Funds Act, 1982 [S1S-7VV], 18 September 1982, Band A. "section 6".
Section 5, Chit Funds Act, 1982 [S1S-7AW], 18 September 1982, Band A. "section 6".
Rule 5, Chit Funds Act Rules, 1982 [S1S-84S], 18 September 1982, Band A. "section 6 of the Act".
Not held (0)
none
Duties published under this section (1)
D11-A09. Every person carrying on business: Obtain a licence before undertaking the carrying on of business; apply in Form B, fee one hundred rupees; Before the activity begins; licence valid three years; Form B. Published by Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry (synthetic record).