Money Circulation Scheme (Banning) Rules, 2013

{
    "id": 16095,
    "slug": "money-circulation-scheme-banning-rules-2013",
    "title": "Money Circulation Scheme (Banning) Rules, 2013",
    "short_title": "Money Circulation Scheme (Banning) Rules, 2013",
    "act_number": "Published vide Notification No. /F 2-13/2013/Est/4",
    "act_year": 2013,
    "act_type": "STATE",
    "location": "Chhattisgarh",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "Money Circulation Scheme (Banning) Rules, 2013",
    "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 (Act No. 43 of 1978);\n(b) \"Compensation Plan\" means plans whether explicitly stated or not, but put in practice by the business entities for distribution of benefits to the subscribers;\n(c) \"Competent Authority\" means authority notified by the State Government for winding-up of the business entities indulging in money circulation schemes and perform other tasks as assigned by the State Government in order to implement the Act;\n(d) \"Downline Subscribers\" means a subscriber who is at a lower level in the pyramid;\n(e) \"Enrollment\" means a subscriber enrolling one or more subscribers;\n(f) \"Money Circulation Scheme\" includes a scheme which is used for making of quick or easy money in disguise of such scheme as a scheme for sale of products or providing or claiming to provide certain goods or services etc.;\n(g) \"Nodal Police Authority\" means police authority in the State notified by the State Government and entrusted with the responsibility of collecting, collecting and sharing information with other States, Central Government, Reserve Bank of India and other concerned authorities regarding money circulation schemes;\n(h) \"Promoter\" means a person or persons who conduct disguised money circulation schemes and includes heirs, assignees etc. of the persons who promote business entities running disguised money circulation schemes. It also includes persons who actually control the operations of such schemes even though they may not be on record acting as promoters of the business entities;\n(i) \"Pyramid\" means a multi-layered network of subscribers to a scheme formed by subscribers enrolling one or more subscribers in order to receive any benefit, directly or indirectly, as a result of enrollment, action or performance of additional subscribers to the scheme. The subscribers enrolling further subscriber(s) occupy higher position and the enrolled subscriber(s) lower position, thus, with successive enrollments, they form multi-layered network of subscribers;\n(j) \"Section\" means a Section of the Act;\n(k) \"Subscriber\" means a subscriber by whatever name called to a Money Circulation Scheme including disguised Money Circulation Scheme;\n(l) \"Upline Subscriber\" means subscriber who is at a higher level in the pyramid.\n3.\n4.\n5.\n6.\n7.\n8.\n9.\n10.\n11.",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        }
    ],
    "metadata": {
        "Act ID": "Last Updated 15th October, 2019 [cg208]",
        "Act Number": "Published vide Notification No. /F 2-13/2013/Est/4, dated 11th March, 2013",
        "Enactment Date": "",
        "Act Year": "2013",
        "Short Title": "Money Circulation Scheme (Banning) Rules, 2013",
        "Type": "STATE",
        "Location": "Chhattisgarh"
    },
    "updated_at": "2026-09-29 21:55:19"
}