Singapore Government
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Contents

Long Title

Part I PRELIMINARY

Part II LICENSING OF FINANCE COMPANIES

Part III RESERVE FUNDS, DIVIDENDS, BALANCE-SHEETS AND INFORMATION

Part IV REGULATION OF BUSINESS

Part V MINIMUM LIQUID ASSETS

Part VI INSPECTION AND CONTROL OF FINANCE COMPANIES

Part VII SUBMISSION OF ACCOUNTS AND DUTIES OF AUDITORS

Part VIII MISCELLANEOUS

Legislative History

Comparative Table

 
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On 24/11/2014, you requested the version as published on or before 24/11/2014.
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Capital ratio
7A.
—(1)  The Authority may require every finance company to maintain capital funds in Singapore in proportion to its total assets or to every category of assets at such ratio or ratios as may from time to time be determined by the Authority by notice in writing.
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(2)  A finance company shall maintain a capital adequacy ratio of not less than 12% or such other percentage as may be determined by the Authority from time to time, as calculated in accordance with such form, content and manner as may be determined by the Authority by notice in writing.
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(3)  The Authority may suspend or restrict the operations of a finance company which fails to comply with subsection (2) or any requirement of the Authority under subsection (1).
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