Section 77 of the Chit Funds Act, 1982 – Penalty for second and subsequent convictions

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Section 77: Penalty for second and subsequent convictions

If any person convicted of an offence under sub-section (1) or sub-section (3) of section 76 is again convicted of an offence under any of the said sub-sections he shall be punishable for the second and for every subsequent offence with imprisonment for a term which may extend to two years and shall also be liable to fine.

Source: official text of The Chit Funds Act, 1982 as published on India Code (PDF). All sections of the Chit Funds Act, 1982.

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