s 15 Effect of revocation of licence
15.—(1) Where an order of revocation becomes effective under section 14 —(a)
notice of the revocation must be published in the Gazette; and
(b)
the chit fund company must, as from the date of the notice, cease to transact any chit fund business in Singapore except as may be approved by the Authority for the purpose of winding up its chit fund business.
(2) Subsection (1)(b) does not prejudice the enforcement by any person of any right or claim against the chit fund company or by the chit fund company of any right or claim against any person.
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