Regulatory Alerts2007-10-17
Added
Notice 805 Credit Facilities to Directors, Employees, Related and Associated Companies
The Monetary Authority of Singapore issued Notice 805 to regulate finance companies in Singapore regarding the granting of credit facilities to directors, employees, and related companies. This notice mandates that affected finance companies submit a specific monthly report detailing all such credit facilities granted. It supersedes previous notices FC Notice 5 from 1975 and 1976, establishing current compliance requirements under the Finance Companies Act.
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