The Prize Chits and Money Circulation Schemes (Banning) Act,1978
[Act No.43 of 1978]
An Act to ban the promotion or conduct of prize chits and money circulation schemes and for matters connected therewith or incidental thereto.
BE it enacted by Parliament in the twenty-ninth year of the Republic of India as follows:-
Section 1. Short title and extent
(1) This Act may be called the Prize Chits and Money Circulation Schemes (Banning) Act,1978.
(2) It extends to the whole of India except the State of Jammu and Kashmir.