In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Chit Funds Act 1971 · 2020 Revised Edition · Part 7 · Miscellaneous Provisions
56. General penalty
Feedback & supportAny chit fund company which, or any person who being a director, an officer, an employee or an agent of a chit fund company, contravenes any of the provisions of this Act for which no penalty is expressly provided shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.
chit fund company
Defined · s 2
“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;