RegAlert

Rule · MAS · 30 Apr 2012

Notice 812 Financing of Trade and Inventory

credit

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.

SingaporeMonetary Authority of Singapore

MAS 812
1 December 1983
NOTICE TO FINANCE COMPANIES
FINANCE COMPANIES ACT, CAP 191
FC Notice 12 dated 1 November 1973 and 9 February 1977 and BFID Circular No. 20/81 dated 28 September 1981 are cancelled. Financing of Trade and Inventory Finance companies may engage in the financing of trade and inventory subject to the following conditions:- (a) Letters of credit are opened on D/P terms on behalf of customers to cover imports of goods. (b) Facilities are not extended to related or affiliated companies of the finance company or to firms or companies in which the finance company or its directors and managers have interests. Last modified on 19/3/2007

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Annotations and obligations
2 obligations · 1 permission · 2 definitions
  • Obligation 2
  • Permission 1
  • Definition / condition 2
  • background, boilerplate

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

BFID Circular No. 20 dated1981-09-28Not in RegAlertBFID Circular No. 20 dated 1981-09-28 — Not in RegAlertFC Notice No. 12 dated 1973-11-01Not in RegAlertFC Notice No. 12 dated 1973-11-01 — Not in RegAlertFC Notice No. 12 dated 1977-02-09Not in RegAlertFC Notice No. 12 dated 1977-02-09 — Not in RegAlertNotice 812 Financing of Tradeand Inventory2012-04-30 · this documentNotice 812 Financing of Trade and Inventory (2012-04-30)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (3)
Supersedes
  • BFID Circular No. 20 dated 1981-09-28Not in RegAlert

    “FC Notice 12 dated 1 November 1973 and 9 February 1977 and BFID Circular No. 20/81 dated 28 September 1981 are cancelled.”

  • FC Notice No. 12 dated 1973-11-01Not in RegAlert

    “FC Notice 12 dated 1 November 1973 and 9 February 1977 and BFID Circular No. 20/81 dated 28 September 1981 are cancelled.”

  • FC Notice No. 12 dated 1977-02-09Not in RegAlert

    “FC Notice 12 dated 1 November 1973 and 9 February 1977 and BFID Circular No. 20/81 dated 28 September 1981 are cancelled.”

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