5. Form of chit agreement.- Every chit agreement shall be in duplicate and shall be signed by the subscribers or by persons authorized in that behalf in writing by the subscribers, and the foreman and attested by at least two witnesses, and it shall contain the following particulars, namely- (1) The full name and the permanent residential address of every subscriber; (2) the tickets held by each subscriber; (3) the number of instalments and the amount payable in respect of each ticket for each instalment; (4) the dates of commencement and termination of the chit; (5) the mode of ascertaining the prized subscriber; (6) the amount of discount which the prized subscriber at any instalment has to forego; (7) the mode and proportion in which the discount is distributable by way of dividend, foreman's commission and other expenses, if any; (8) the date, time and place at which the chit is to be drawn; (9) If under the chit agreement the foreman is entitled to the chit amount, the instalment at which the foreman is to get the chit amount; (10) the approved bank or banks in which chit moneys shall be deposited by the foreman under the provisions of this Act; (11) the manner in which a chit shall be continued, where a foreman who is an individual dies or becomes of unsound mind; and (12) any other particulars which may be prescribed. Explanation.- It is sufficient to get the signature of each subscriber on separate copies of the agreement. | 
