Regulatory Alerts2012-04-30
Added
Notice 812 Financing of Trade and Inventory
The Monetary Authority of Singapore issued Notice 812 to regulate finance companies engaging in trade and inventory financing under the Finance Companies Act. The notice permits such activities only if letters of credit are opened on D/P terms for import goods and explicitly prohibits extending facilities to related or affiliated entities. This directive supersedes and cancels previous notices and circulars dated 1973, 1977, and 1981.
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