Section 26

Where the provisions of this Act or the regulations made under this Act or the terms and conditions of the agreement require any matter to be decided by a meeting of the subscribers, the chit fund company must convene a meeting for the purpose within 7 days of its becoming aware of the event requiring a meeting and must serve written notice on each of the subscribers not less than 5 days before the date selected by the chit fund company for the meeting.

The notice must state the time, date and place at which the meeting is to be held, and the business to be transacted at the meeting.

The notice may either be served personally on each subscriber or sent to the subscriber by registered or certified post; and any notice sent to a subscriber by registered post is deemed to have been duly served if it was addressed to the registered address of that subscriber or to any other address notified by that subscriber in writing to the chit fund company.