Finance Companies Act |
Finance Companies (Exemption from Sections 23(1) and 25(2)) Regulations 2009 |
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Citation and commencement |
1. These Regulations may be cited as the Finance Companies (Exemption from sections 23(1) and 25(2)) Regulations 2009 and shall come into operation on 12th May 2009. |
Definitions |
2. In these Regulations, unless the context otherwise requires —
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Exemption of Hong Leong Finance Limited |
Exemption of Sing Investments & Finance Limited |
4.—(1) The Authority hereby exempts Sing Investments & Finance Limited (referred to in these Regulations as SIF) from section 23(1)(f)(i) of the Act in respect of unsecured advances, unsecured loans or unsecured credit facilities granted under the Micro Loan Programme and the Bridging Loan Programme, administered by the Standards, Productivity and Innovation Board, provided that SIF shall not, in relation to the unsecured advances, unsecured loans or unsecured credit facilities granted to any person or body of persons, whether incorporated or not, bear any credit risk which in the aggregate and outstanding at any one time exceeds $5,000.
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Conditions |
5. The exemptions granted to HLF under regulation 3 and SIF under regulation 4 shall be subject to such conditions and restrictions as the Authority may specify in writing to HLF or SIF, respectively. |
Revocation |
6. The following notifications and regulations are revoked:
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Managing Director, Monetary Authority of Singapore. |
[FSG FC 07; FSG FC 020; AG/LEG/SL/108/2003/1 Vol. 1] |
Current Acts and Subsidiary Legislation | |
Current Acts | |
Current Subsidiary Legislation | |
All Collections | |
Acts Supplement | |
Bills Supplement | |
Subsidiary Legislation Supplement | |
Revised Editions of Acts | |
Revised Editions of Subsidiary Legislation |