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Section 13 – The Prize Chits and Money Circulation Schemes (Banning) Act,1978

The Prize Chits and Money Circulation Schemes (Banning) Act,1978

Section 13. Power to make rules

(1) The State Government may, by notification in the Official Gazette and in consultation with the Reserve Bank make rules for the purpose of carrying out the provisions of this act.

(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for-

(a) The office of the Reserve Bank of to whom full information regarding any prize chit or money circulation scheme may be furnished under the first proviso to sub-section 91) and of section 12, and the form in which and the period within which such information may be furnished;

(b) The particulars relating to the winding up plan of the business relating to prize chits or money circulation schemes.

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The Prize Chits and Money Circulation Schemes (Banning) Act,1978

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