s 9 Minimum capital requirements
9.—(1) Subject to the provisions of this Act, no chit fund company may be granted or may hold a licence unless its capital, issued and paid up in cash, and unimpaired by losses or otherwise, is not less than $200,000.
(2) The Authority may require such percentage of the issued and paid‑up capital as may be prescribed in regulations made under this Act to be deposited in such manner as may be prescribed.
(3) A chit fund company incorporated in Singapore must not reduce its paid‑up capital during the currency of its licence without the Authority’s approval.
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