Singapore legislation
Clause 27
Clause 27
Minutes of meeting
The chit fund company shall enter in a book to be kept for that purpose the minutes of the proceedings of every meeting of the subscribers. The minutes shall 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; and
(g)
the amount of the interest.