Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979

{
    "id": 14800,
    "slug": "andhra-pradesh-state-prize-chits-and-money-circulation-schemes-banning-rules-1979",
    "title": "Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979",
    "short_title": "Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979",
    "act_number": "Published vide G.O.Ms.No. 491, Home (General-B), 1",
    "act_year": 1979,
    "act_type": "STATE",
    "location": "Andhra Pradesh",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "1. Short title and commencement:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "2. Definitions:",
            "chapter": null,
            "content": "(a) \"Act\" means the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (Central Act No. 43 of 1978);\n[(b) \"Authorised Officer\" means [any Joint Collector in his respective Jurisdiction authorised by State Government in this behalf under Section 12] ;\n(c) \"Form\" means a form specified in the Schedules to these rules;\n(d) \"Office of the Reserve Bank\" means the office of the Reserve Bank specified in sub-rule (1) of Rule 4;\n(e) \"Promoter\" means a person conducting a Prize Chit or Money Circulation Scheme at the commencement of the Act and desiring to continue such chit or schemes pursuant to sub-section (1) of Section 12 for winding up the business relating to such chit or scheme;\n(f) \"Schedule\" means the Schedule to these rules;\n(g) \"Scheme\" means a Money Circulation Scheme or as the case may be, a Prize Chit as defined in clauses (c) and (e) respectively of Section 2;\n(h) \"Section\" means a section of the Act;\n(i) \"Subscriber\" means a subscriber to a Prize Chit or Money Circulation Scheme;\n(j) Words and expressions used in these rules but not defined shall have the meaning respectively assigned to them in the Act.",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        },
        {
            "number": "11",
            "title": "3. Application for being notified under Section 11:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        },
        {
            "number": "4",
            "title": "4. Particulars of the Scheme and winding up Plans to be furnished by the Promoter:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 3
        },
        {
            "number": "5",
            "title": "5. Extension of time for the winding up of the existing Schemes:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 4
        },
        {
            "number": "6",
            "title": "6. Procedure for the Disposal of the plan or Application:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 5
        },
        {
            "number": "7",
            "title": "7. Promoter to be informed:",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 6
        },
        {
            "number": "8",
            "title": "8. Consequences of the approval of the Plan or grant of extension of time to close the business of the Schemes:",
            "chapter": null,
            "content": "(a) the subscribers may remit money to the promoter in accordance with the winding up plan;\n(b) the promoter may receive monies from the subscribers and may also distribute prizes by way of cash or otherwise to the subscribers in accordance with the winding up plan; and\n(c) the subscribers may receive monies from the promoters in accordance with the winding up plan due to them under the schemes.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 7
        },
        {
            "number": "9",
            "title": "9. Refund of monies or subscriptions collected by the promoters:",
            "chapter": null,
            "content": "First Schedule\nFirst Schedule\n[See Rule 3]\n[Form of application to be used by a charitable/educational institution for being notified under clause (d) of Section 11 of the Act]\n[Form of application to be used by a charitable/educational institution for being notified under clause (d) of Section 11 of the Act]\nPlace:\nDate:\nYours faithfully\n(President)\n(Secretary)\nFor and on behalf of ..............at\nStatement of Particulars\nStatement of Particulars\nSignature(s) of the President/Manager/Secretary/Authorised official of the institution.\nName(s)\nDesignation (s)\nNote:\n(ii) A copy each of the latest available audited Balance Sheet and Profit & Loss Account as also a financial statement in the same proforma as on the date of the coming into operation of the Act, duly certified by the auditors should be attached.\nAnnexure\nAnnexure\n(Amount in lakhs of rupees)\nSl. No.\nName of the Scheme\nDate of commencement of the Scheme\nDate of maturity of the scheme\nNo. of members intended to be enrolled as per the\nNo. of members enrolled and actually subscribing.\n(1)\n(2)\n(3)\n(4)\n(5)\n(6)\nAmount of liability by way of prizes, if any, in\nAmount actually disbursed by way of prizes\nOutstanding liability on account of disbursement\nAre subscribers who win prizes bound to pay\n(7)\n(8)\n(9)\n(10)\nDoes the scheme contemplate refund of the amounts\nIf the reply to the query in item 11 is in the\nRemarks\n(11)\n(12)\n(13)\n(ii) If any item is not applicable, the letters N.A. should be entered thereunder.\n(iii) This statement should be authenticated by the authorised officials of the institution and countersigned by its auditors.\nSecond Schedule\nSecond Schedule\nForm - I\nForm - I\n[See Rule 4(1)]\n[Form for furnishing particulars of the scheme(s) and winding up plan]\n[Form for furnishing particulars of the scheme(s) and winding up plan]\nPlace:\nDate:\nYours faithfully\n(....................)\nPresident\n(....................)\nSecretary\nFor and on behalf' of *(Here enter the name of the applicant institution).\nNotes:\n(ii) This form as well as its enclosures should be forwarded to the authorised officer in duplicate. Two copies each thereof should be forwarded simultaneously to the Deputy Chief Officer, Reserve Bank of India, Department of Non-Banking Companies ......... Regional Office ........... 10-3-8, Nrupatunga Road. Bangalore-560 002.\nStatement of Particulars\nStatement of Particulars\nSignatures of the Chairman/Managing Director/Manager/Partner(s) Authorised Official (s)\nName (s)\nDesignation (s)\nNotes:\n(ii) A copy of each of the latest available audited Balance Sheet and Profit and Loss Account as also a Financial Statement in the same proforma as on the coming into operation of the Act duly certified by the auditors, should be attached.\n(iii) As regards item 15 above, a cash flow statement for every six monthly-period commencing from the date of this statement indicating the total amounts expected to be recovered and disbursed to the prize winners and to the subscribers of the schemes by way of advance and/or refunds (to the subscribers in the terminated schemes) should be furnished. It should be ensured that the cash flow statements are drawn upon a realistic basis having regard to the past experience and indicating the factors which have been taken into account in arriving at the estimated amounts of recoveries and disbursements. The broad criteria/rules, if any, followed in determining the quantum of the loans advanced, to be advanced to the subscribers, the periods generally stipulated for their repayment and the nature of securities obtained at the time of the loans should be indicated.\nAnnexure\nAnnexure\n(Amounts in lakhs Rupees)\n(Amounts in lakhs Rupees)\nPart I\nPart I\nParticulars of the Schemes\nParticulars of the Schemes\nSl. No.\nName of the Scheme\nDate of commencement\nDate of maturity\n(1)\n(2)\n(3)\n(4)\n1. 2. 3.\nNo. of members contemplated to be enrolled as per\nNo. of subscribers enrolled and actually\nAmount of subscription collected\nAmount of subscription forfeited\n(5)\n(6)\n(7)\n(8)\nAmount of subscription refunded to the\nAmount by way of prize s in cash or king offered\nAmount actually disbursed by way of prizes\nAmount of outstanding liability on prizes.\n(9)\n(10)\n(11)\n(12)\nAre the subscribers who win prizes bound pay subscription till\nTotal amount of liability under each scheme on maturity i.e.,\n(13)\n(14)\n1. 2. 3.\nWhether any amounts have be advanced to persons\nNo.\nAmount\nMode of utilisation of excess funds if any.\nRemarks\n(15)\n(15A)\n(15B)\n(16)\n(17)\nPart II\nPart II\nParticulars of the advances\nParticulars of the advances\nSl. No.\nNo. of subscribers and the amount disbursed to\nNo. of subscribers who have not availed of loans\nNo. and amount of loans availed of by the\nRemarks\n(1)\n(2)\n(3)\n(4)\n(5)\nNo.\nAmount\nNo.\nAmount\n(2A)\n(2B)\n(4A)\n(4B)\n1. 2. 3.\nEtc.,\n(ii) The related particulars should be given scheme-wise in Part-1 and the same serial order in Part II.\n(iii) If any item is not applicable, the letters N.A. should be entered thereunder.\n(iv) In regard to item 4 of Part H, further particulars about the advances to directors etc., should be given in a separate sheet in the following proforma .\nName of the directors/committee/members partners\nDate and amount of original advance\nAmount of advance outstanding\n(1)\n(2)\n(3)\nDate\nAmount\n(2A)\n(2B)\nDate and amount of Loans advanced to associate\nRate of interest charged\nRemarks\n(4)\n(5)\n(6)\nDate\nAmount\n(4A)\n(4B)\nForm-II\nForm-II\n[See Rule 5]\nForm of application to be used for seeking extension of time for the winding up the business of the existing schemes\nPlace :\nDate :\nYours faithfully ,\n(.......................)\nDesignation.\nFor and on behalf of\n(b) Under items (a) or (b) or (c). etc. paragraph 2, the nature of the securities offered such as immovable properties or other marketable securities their estimated value etc., duly certified by the auditors/expert valuers should be given. The fact that the proposed lodgers of the securities have a clear title and that the securities are not encumbered in any manner should be duly certified by the legal advisers of the applicant institution.\n(c) This application as well as its enclosures should be forwarded to the authorised officer in duplicate. Two copies each thereof should be forwarded simultaneously to the Deputy Chief Officer, Reserve Bank of India, Department of Non Banking Companies ............... Regional Office .............. 10-3-8. Nrupatunga Road, Bangalore 560002.\nNotification\nNotification\nAuthorisation of certain powers to Joint Collectors under the Prize Chits and Money Circulation Schemes Banning Act, 1978 and Amendment to the A.P. State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979\nAuthorisation of certain powers to Joint Collectors under the Prize Chits and Money Circulation Schemes Banning Act, 1978 and Amendment to the A.P. State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979\n[G.O.Ms.No. 673, Home (General-B), 30th December 1980]\nInvestigation of Case Against M/s. Amway India Enterprises\nInvestigation of Case Against M/s. Amway India Enterprises\n[G.O. Ms. No. 178 Home (General-B) 15th September, 2008]",
            "footnote": "",
            "is_definition": false,
            "sort_order": 8
        }
    ],
    "metadata": {
        "Act ID": "AP030",
        "Act Number": "Published vide G.O.Ms.No. 491, Home (General-B), 13th July, 1979",
        "Enactment Date": "",
        "Act Year": "1979",
        "Short Title": "Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979",
        "Type": "STATE",
        "Location": "Andhra Pradesh"
    },
    "updated_at": "2026-09-29 21:55:18"
}