Regulatory Alerts2012-04-30
Added
Notice 808 Disclosure of Directors' Interests
The Monetary Authority of Singapore issued Notice 808 to require finance companies to disclose directors' interests in contracts under Section 131 of the Companies Act. This regulation mandates that directors declare the nature of their interests at board meetings and extends to credit facilities extended to them or their family members. The notice simultaneously cancels BS (FC) Circular No. 2/75 dated 26 February 1975.
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