Section 1 of The Chit Funds Act, 1982
Short title, extent and commencement.
- (1)This Act may be called the Chit Funds Act, 1982.
- (2)It extends to the whole of India 1***.
- (3)It shall come into force on such date2 as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different States.
Summary
- The official name of this law is The Chit Funds Act, 1982.
- The jurisdiction of this Act extends to the whole of India.
- The Central Government decides when the law comes into force by publishing a notification in the Official Gazette.
- The Central Government has the power to appoint different starting dates for different States rather than launching it nationwide at once.
Practical examples
FAQ
1. What is the official name of this law?
The law is called the Chit Funds Act, 1982.
2. Does this law apply to the entire country?
Yes, it extends to the whole of India.
3. Does the law start working on the exact same day across all of India?
No, the Central Government can appoint different starting dates for different States by publishing notifications in the Official Gazette.
Test yourself
1.Under Section 1 of The Chit Funds Act, 1982, who has the authority to decide when the Act comes into force in a particular State?
2.Under Section 1 of The Chit Funds Act, 1982, which of the following is true regarding the geographic extent of the Act?
3.Under Section 1 of The Chit Funds Act, 1982, is the Central Government required to enforce the Act on the same date nationwide?
4.Under Section 1 of The Chit Funds Act, 1982, what official publication must the Central Government use to announce the commencement date of the Act?