Singapore legislation
Section 13
Section 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
(1)
The Authority may by written notice direct a finance company that is incorporated in Singapore to obtain from any shareholder of the finance company and to transmit to the Authority information —
as to whether that shareholder holds any voting shares in the finance company as beneficial owner or as trustee; and
if that shareholder holds them as trustee, to indicate, as far as it can, the person for whom that shareholder holds them (either by name or by other particulars sufficient to enable those persons to be identified) and the nature of their interest,and the finance company must comply with that direction within the time specified in the notice.
(2)
In this section, “voting shares” has the meaning given by the Companies Act 1967.
(3)
A finance company which fails to comply with a direction under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.