Section 87 of the Chit Funds Act, 1982 – Power to exempt

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Section 87: Power to exempt

The State Government may, in consultation with the Reserve Bank, by notification in the Official Gazette, and subject to such conditions as may be specified in the notification, exempt any person or class of persons or any chit or class of chits from all or any of the provisions of this Act.

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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