Singapore legislation
Clause 37
Clause 37
Books to be kept by chit fund company
The Chit fund company shall keep and from day to day regularly post up the following books: —
a register of subscribers containing —
the names and full addresses of all subscribers with the respective dates on which the subscribers signed the agreement, and the date on which any subscriber ceased to be a subscriber by reason of a transfer of rights or of a substitution in case of default;
in the case of any transfer of rights by a subscriber, the name and full address of the person to whom the rights are transferred with the date of such transfer and the date on which notice thereof is given to the chit fund company; and
the name and full address of any person substituted in place of a defaulting subscriber, with the date on which he is so substituted;
the minute book required under section 27 of this Act;
an account book containing separate accounts of the following: —
the contributions paid by each subscriber and the respective dates of such payments;
the prize amounts paid to purchasers of the chit fund amount and the respective dates of such payments;
the amount of the commission or remuneration received by the chit fund company and the registration fees paid by it; and
the amount of the rebate paid to each subscriber on each occasion and the date of such payment.