Chit Funds Act 1971 · 2020 Revised Edition · Part 5 · Reserve Fund, Dividends, Balance Sheet, Information and Regulation of Business
48. Information and statistics to be furnished by chit fund companies
Feedback & supportEvery chit fund company must furnish to the Authority, at such time and in such manner as the Authority may prescribe, all the information and data that the Authority may reasonably require for the proper discharge of its functions under the provisions of this Act.
chit fund company
“chit fund company” means a company which carries on chit fund business and holds a valid licence granted under section 7. All branches and offices in Singapore of the company are deemed to be one chit fund company for the purposes of this Act;
Every chit fund company that fails or neglects to furnish any information required by the Authority under subsection (1), and within the time specified by the Authority, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000 for every day during which the default continues after conviction.