ORDER :

1. We have heard the learned counsel for the parties for some time.

2. In the instant case, we are concerned with an amendment introduced by the Kerala Legislature by the Kerala Finance Act, 2002 incorporating in the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975), Section 4(l)(a) which is as follows:

"4. (1)(a) Where a chitties is registered outside the State and twenty percent or more of the subscribers are persons normally residing in the State, the foreman of the chitty shall open a branch in the State and obtain sanction and registration under the provisions of this Act."

3. The said amendment was challenged by the respondents herein and one of the grounds urged on their behalf was that the provisions of the Kerala Act were inconsistent with the provisions of a Central Act enacted by Parliament, namely, the Chit Funds Act, 1982. It is admitted before us that under Section 1(3) of the said Act, the Act shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different States. It is also not disputed before us that the notification under Section 1(3) of the Act has not be