Chit Funds Act 1971
(Section 61)
Chit Funds (Payment to Successful
Subscriber) Regulations 1972
2024 REVISED EDITION
(18 December 2024)
[10 March 1972]
Citation
1.  These Regulations are the Chit Funds (Payment to Successful Subscriber) Regulations 1972.
Definition
2.  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.
Chit fund amount to be paid within 7 days
3.  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.
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Last updated 30 Jan 2025
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