Singapore legislation
Section 42
Section 42
Financial limits to be observed by chit funds
(1)
The total value of the chit fund to be conducted at any one time by a chit fund company must be as prescribed by regulations made under this Act.
(2)
For the purposes of this section, the “total value of the chit fund” means the aggregate of the chit fund amounts that are to be collected and put up for sale during the period of that chit fund.