Long Title
Part I PRELIMINARY
1 Short title
2 Interpretation
Part II LICENSING OF FINANCE COMPANIES
3 Licensing of finance companies
4 Use of words "finance company"
5 Examination of persons suspected of transacting financing business
6 Application for licence
7 Minimum capital requirements
7A Capital ratio
8 Restriction on opening of branches of finance company
9 Mergers, etc., of finance company
10 Control of takeovers of finance companies incorporated in Singapore
11 Arrangements affecting control of finance company incorporated in Singapore
12 Control of substantial shareholding in finance companies incorporated in Singapore
13 Power of Authority to require finance company that is incorporated in Singapore to obtain information as to beneficial interests in shares of finance company
14 Amendment of constitution of finance company
15 Revocation of licence
16 Effect of revocation of licence
17 Publication of list of finance companies
Part III RESERVE FUNDS, DIVIDENDS, BALANCE-SHEETS AND INFORMATION
18 Maintenance of reserve fund by finance companies
18A Maintenance of adequate provision for bad and doubtful debts
19 Restriction on payment of dividends by finance companies
20 Publication and exhibition of audited balance-sheet
21 Information and statistics to be furnished by finance companies
21A Monthly statements of advances, loans and credit facilities
21B Disclosure of interest by directors
Part IV REGULATION OF BUSINESS
22 Acknowledgment of indebtedness
23 Dealings by finance companies and credit facilities and limits
24 Dealing by finance company in its own shares, etc.
25 Restrictions on trade by finance companies
26 Restrictions on investments by finance companies
27 Restrictions on holding immovable property by finance companies
28 Control over finance companies in the acquisition of shares in companies
29 Power of Authority to secure compliance with sections 23, 26, 27 and 31
30 Notices to finance companies
31 Orders by Authority
Part V MINIMUM LIQUID ASSETS
32 Minimum holdings of liquid assets by finance companies
Part VI INSPECTION AND CONTROL OF FINANCE COMPANIES
33 Inspection and investigation of finance companies and production of books, etc.
34 Finance company unable to meet obligation to inform Authority
35 Action by Authority if finance company is unable to meet obligations or is conducting business to detriment of its depositors or creditors
36 Powers of Authority
37 Duration of control
38 Finance company under control of Authority to co-operate with Authority
39 Remuneration and expenses of Authority and others in certain cases
Part VII SUBMISSION OF ACCOUNTS AND DUTIES OF AUDITORS
40 Directors to submit copy of profit and loss account
41 Appointment and duties of auditors
Part VIII MISCELLANEOUS
42 Authority to administer Act
43 Prohibition against transacting of financing business on public holidays
44 Priority of specified liabilities
44A Priority of specified liabilities inter se
45 Moratorium
46 Memorandum and articles of association of finance company
47 Disqualification of directors of finance company
48 Penalty for offences not otherwise provided for
49 Offences by directors or managers
50 Falsification of books, documents, etc.
51 Holding out as finance company
52 Consent of Public Prosecutor
52A Jurisdiction of District Court
53 Exemptions
54 Winding up provisions
55 Redemption of securities held by finance company
56 Operation of Act not to affect Companies Act
57 Regulations
Legislative History
Comparative Table