Singapore legislation

Clause 6

of Chit Funds Bill

Clause 6

Examination of persons suspected of transacting chit fund business

Whenever the Commissioner has reason to believe that a person is transacting chit fund business without a licence, he shall have the power to examine the books, accounts and records of such person in order to ascertain whether or not such person has violated or is violating any provisions of this Act, and any refusal to submit such books, accounts and records shall be prima facie evidence of the fact of operation without a licence.