money circulation scheme definition
money circulation scheme has the same meaning as defined under the prize chits and Money circulation Scheme ▇▇▇ ▇▇▇▇.
money circulation scheme means any scheme, by whatever name called, for the making of quick or easy money, or for the receipt of any money or valuable thing as the consideration for a promise to pay money, on any event or contingency relative or applicable to the enrolment of members into the scheme, whether or not such money or thing is derived from the entrance money of the members of such scheme or periodical subscriptions;
money circulation scheme has the same meaning as defined under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
More Definitions of money circulation scheme
money circulation scheme means a scheme, plan, arrangement, agreement or understanding, between two or more persons which involves the pooling and distribution of funds by recruitment of subscribers, the continuation of whose existence and the realisation of any of its benefits substantially depends on the incremental recruitment of subscribers from the public for an unspecified period;
money circulation scheme means the schemes defined in clause (c) of section 2 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (43 of 1978)
money circulation scheme means the schemes defined in clause (c) of section 2 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (43 of 1978);
money circulation scheme means a plan, arrangement, agreement or understanding, between two or more persons that involves the pooling and distribution of funds by recruitment of subscribers, and which, for its continuous existence and realisation of its benefits, substantially depends on the incremental recruitment of subscribers for an unspecified period;
money circulation scheme means a scheme, plan, arrangement, agreement or understanding, between two or more persons which involves the pooling and distribution of funds by recruitment of
money circulation scheme means any scheme, by whatever name called, for the making of quick or easy money, or for the receipt of any money or valuable thing
money circulation scheme means any scheme, by whatever name called, for the making of quick or easy money, or (ii) 'money circulation scheme' means any scheme, for the receipt of any money or valuable thing as the consideration for a promise to pay money. Taking into consideration the language used in the clause and particularly the two commas, one after the words "easy money" and the other after the words "pay money", it becomes clear that this stipulation is intended to cover both; and the interpretation contended for by Mr. Chatterjee that the further provision in the definition, namely, "on any event or contingency relative or applicable tot he enrollment of members into the scheme, whether or not such money or thing is derived from the entrance money of the members of such scheme or periodical subscriptions", applies only to the second part, namely, "'money circulation scheme' means any scheme, by whatever name called, for the receipt of any money or valuable thing as the consideration for a promise to pay money", is not sound. On this interpretation of Mr. Chatterjee, the provision in the definition, namely, "'money circulation scheme' means any scheme, by whatever name called, for the making of quick or easy money" will indeed become vague and meaningless.