Singapore legislation
Section 27
Section 27
Minutes of meeting
(1)
The chit fund company must enter in a book to be kept for that purpose the minutes of the proceedings of every meeting of the subscribers.
(2)
The minutes must in every case contain the following particulars:
(a)
the place, date, time and duration of the meeting;
(b)
the names of the subscribers who were present; (c)the items of business transacted at the meeting,and in the case of a meeting at which a chit fund amount is auctioned, the following additional particulars:
(d)
the serial number of the auction;
(e)
the name of each bidder and the amount of each bid;
(f)
the name of the purchaser; (g)the amount of the interest.