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In force2024 Revised Edition
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Subsidiary Legislation

Chit Funds (Payment to Successful Subscriber) Regulations 1972

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Official textFrom Singapore Statutes Online, unchanged

reg 1Citation

These Regulations are the Chit Funds (Payment to Successful Subscriber) Regulations 1972.

reg 2Definition

In these Regulations, “successful subscriber” means a subscriber who has been declared the purchaser of a chit fund amount and who has furnished at least 2 guarantors acceptable to the chit fund company.

reg 3Chit fund amount to be paid within 7 days

A successful subscriber is entitled to receive the chit fund amount within 7 days from the date of being declared the purchaser of the chit fund amount.