Section 21
Security
ActIn forceProvision 21 of 61
Section 21
The licensing of any company under this Act is not to be regarded as authorising the promotion or formation of any chit fund or the acceptance by that company of any instalment or interest from any subscriber until such security as is provided in the regulations made under this Act in respect of that chit fund has been deposited by the chit fund company in accordance with those regulations.