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.
Notices
Last Revised Date: 17 October 2007
Requirements for finance companies when granting credit facilities to directors, employees and related companies.
Credit Risk
Issued pursuant to:
Finance Companies Act (Cap. 191) subsection (1) of section 21A
Applies to:
Finance Company
View Notice
Notice 805 Credit Facilities to Directors, Employees, Related and Associated Companies
(8.19 KB)
This notice applies to all finance companies in Singapore. It sets out the monthly report a finance company has to submit covering all credit facilities granted to directors, employees and related companies.
28 May 1981 FC Notice 5 dated 2 June 1975 and 1 April 1976 are cancelled.
Appendix A: Monthly Report of Credit Facilities to Directors Employees Related and Associated Companies (16.5 KB)