Clause 50

If the Commissioner finds upon an inspection under section 49 of this Act that the affairs of a chit fund company are being conducted in a manner likely to be detrimental to the interests of the subscribers or prejudicial to the interests of the chit fund company, the Commissioner may by order require the chit fund company to take such corrective action as the Commissioner considers to be necessary or require the chit fund company to discontinue such practices or procedures.

No order shall be issued under subsection (1) of this section unless the chit fund company has been given a reasonable opportunity to present its views to the Commissioner.

The Commissioner may, upon representation being made to him, or on his own motion, modify or cancel any order issued under subsection (1) of this section and, in so modifying or cancelling any order, may impose such conditions as he thinks fit.