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What is a whip-round?

What is a whip-round? Here are some definitions.

Noun
  1. (chiefly Britain, informal) A quick collection of money from a group of people, usually for a beneficial purpose.
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Examples
In the spirit of the time, a whip-round was carried out and I was soon clutching a fist-full of pennies and ha'pennies to make up my sixpence.
But that was not before Swindon cab drivers had completed a whip-round to buy a replacement set.
They said they're going to have a whip-round and now they say I'm staying for the rest of the season.
But WaMu's whip-round shows that the desperation is spreading to Main Street.
The airline didn't have any money, so the passengers had to have a whip-round to raise enough cash to refuel.
A group of Japanese factory workers had sent some cash after a whip-round on their shopfloor.

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