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Section 4 – The Prize Chits and Money Circulation Schemes (Banning) Act,1978

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

Section 4. Penalty for contravening the provisions of section 3

Whoever contravenes the provisions of section 3 shall be punishable with imprisonment for term which may extend to three years, to with fine which may extend to five thousand rupees, or with both:

Provided that in the absence of special and adequate reasons to the contrary to be mentioned din the judgement of the court, the imprisonment shall not be less than on e year and the fine shall not be less than one thousand rupees.

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

Indian Laws – Bare Acts

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