Regulatory Alerts2007-10-17
Added · Updated
Notice 805 Credit Facilities to Directors, Employees, Related and Associated Companies
FC Notice 5 dated 2 June 1975 and 1 April 1976 are cancelled. Pursuant to subsection (1) of Section 21A of the Finance Companies Act, finance companies are required to submit a monthly report to the Authority covering all credit facilities, including guarantees, provided to directors, their companies and firms, employees, and related and associated companies. The required format for this return and explanatory notes are provided in Appendix A.
MAS 805 28 May 1981 (updated on 17 Oct 07) NOTICE TO FINANCE COMPANIES FINANCE COMPANIES ACT, CAP 191 FC Notice 5 dated 2 June 1975 and 1 April 1976 are cancelled. Credit Facilities to Directors, Employees, Related and Associated Companies Pursuant to subsection (1) of Section 21A of the Finance Companies Act, finance companies are required to submit to the Authority a monthly report covering all credit facilities (including guarantees) to the following categories of borrowers:- (a) Directors, their companies and firms; (b) Employees; (c) Related and associated companies. The format of the return and a copy of the explanatory notes are shown in Appendix A.
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