12 April 2012
As the Chit Fund Act, 1982 is a central enactment it extends to whole of india, as usual except the State of Jammu & Kashmir, but the administration of the Act has been left to State Governments which are required to appoint a Registrar of Chits under section 61 of the Act. Many States like Delhi has already appointed REgistrar of Chits and the provisions of the act applies to such state those have appointed registrar as described in section 61 of the Act. In such states where the registrar has not been appointed till date, like Haryana, the provision of this central act does not become enforceable in the absence of adequate machinery. You are also required to verify whether the State of Maharashtra hasnotified any rules under the Act and have appointed Registrar, if so, the enactment shall have full force, otherwise it is toothless lion.
03 May 2012
thank each one of you for your replies...
FYI. there is no notification in the official gazzette issued by the central government of the enforceability of central chit fund act (40 of 1982) for the state of maharashtra. in all 20 states have adopted the central chit fund act & the same have official gazzette notifications to that effect. more over the state government follows the maharashtra chit fund act 1974 & whereas the appointed registrar (jt. comm. sales tax) follows the central chit act.