Singapore legislation

Section 28

of Chit Funds Act 1971

Section 28

Alteration of agreement

Subject to the provisions of this Act and the regulations made under this Act and subject also to any terms or conditions contained in the agreement as to the matters or the mode in which alterations of the agreement may be made, any alteration of the figures, amounts, dates or other particulars which are not likely to affect the intention or the legal effect of the essential terms and conditions, or any alteration of the additional terms and conditions contained in any agreement, may be made only at any meeting of the subscribers, duly convened for the purpose, by the votes of a majority, the aggregate of whose contributions is not less than three-quarters of the chit fund amount.

Section 28 — Chit Funds Act 1971 | laws.sg