State Act

THE UTTAR PRADESH CHIT FUND ACT, 1975

This Act was repealed on a date we do not have by the Chit Funds Act, 1982 (Central Act 40 of 1982), s.90(1); it may still apply to matters that began before then.

18. (1) Every foreman shall prepare and file with the Registrar in such manner and within such time as may be prescribed, a balance-sheet relating to the period of account duly audited either by auditors duly qualified to act as auditors of companies under the Companies Act, 1956 or by a Chit Auditor appointed under sub-section (3) of section 53· (2) The balance sheet referred to in sub-section (1) shall:- (a) contain a summary of the assets and liabilities of all chits conducted by him; (b) give such particulars as will disclose the nature of the said assets and liabilities and how the value of those assets has been arrived at; and (c) such other particulars as may be prescribed .