The Prize Chits and Money Circulation Schemes (Banning) Act

Short title and extent

Definitions

Banning of prize chits and money circulation schemes or enrolment as members or participation therein

Penalty for contravening the provisions of section 3

Penalty for other offences in connection with prize chits or money circulation schemes

Offences by companies

Power to enter, search and seize

Forfeiture of newspaper and publication containing prize chit or money circulation scheme

Power to try offences

Offences under this Act to be cognizable

Act not to apply to certain prize chits or money circulation schemes

Transitional provisions

Power to make rules

Repeals and saving

All sections

No person shall promote or conduct any prize chit or money circulation scheme,
or enroll as a member to any such chit or scheme, or participate in it otherwise, or receive or remit any
money in pursuance of such chit or scheme.

LAWGIST

# 3 Banning of prize chits and money circulation schemes or enrolment as members or participation therein