Section 29
Substitution of subscribers.
About this Act
An Act to provide for the regulation of chit funds and for matters connected therewith.
(1) A foreman may substitute in the list of subscribers any person
(thereafter in this Chapter referred to as the substituted subscriber) in place of the defaulting subscriber
whose name has been removed under sub-section (1) of section 28.
(2) Every substitution referred to in sub-section (1) shall, with the date thereof, be entered in the relevant book maintained by the foreman and a true copy of every such entry shall be filed by the foreman with the Registrar within fourteen days from the date of substitution.
(2) Every substitution referred to in sub-section (1) shall, with the date thereof, be entered in the relevant book maintained by the foreman and a true copy of every such entry shall be filed by the foreman with the Registrar within fourteen days from the date of substitution.