s 27 Minutes of meeting
27.—(1) The chit fund company must enter in a book to be kept for that purpose the minutes of the proceedings of every meeting of the subscribers. (2) The minutes must in every case contain the following particulars:(a) the place, date, time and duration of the meeting; (b) the names of the subscribers who were present; (c) the items of business transacted at the meeting, and in the case of a meeting at which a chit fund amount is auctioned, the following additional particulars: (d) the serial number of the auction; (e) the name of each bidder and the amount of each bid; (f) the name of the purchaser; (g) the amount of the interest.