Clause 9

Subject to the provisions of this Act, no chit fund company shall be granted or shall hold a licence unless its capital, issued and paid up in cash, and unimpaired by losses or otherwise, is not less than two hundred thousand dollars.

The Commissioner may require such percentage of the issued and paid-up capital as may be prescribed in regulations made under this Act to be deposited in such manner as may be prescribed.

No chit fund company incorporated in Singapore shall reduce its paid-up capital during the currency of its licence without the approval of the Commissioner.