Section 12, Chit Funds Act, 1982 [S1S-7HF]

As at 7 September 2026. In force from 18 September 1982.

In Chit Funds Act, 1982 [A10-VJN]. This text from 18 September 1982. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 12, Chit Funds Act, 1982 [S1S-7HF]. Machine: S1S-7HF.

12. Prohibition of the business of a firm without licence.—No person shall undertake the business of a firm except under and in accordance with the conditions of a licence granted under section 13: Provided that nothing in this section shall apply to the business of a firm undertaken by or on behalf of the Central Government or a State Government.

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.

firm: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "firm" means a firm registered under section 4

firm: 12 more definitions.

Made under this section, or naming it (0)

none

Cited by (0)

none

Not held (0)

none

Duties published under this section (0)

none