Consider the following statements:
(1) Chit business will be required to use the word 'Fraternity Fund' to signify its nature as well as to differentiate its working from Prize Chits.
(2) The bill aims at hiking ceiling of foreman’s commission from a max of 7% to 11%.
(3) Bill aims to amend Sec 85 (b) of the Chit Funds Act, 1982 to remove ceiling of Rs 1000.
Which of the above statement/s is/are true regarding the new Metro policy?