Singapore legislation

Section 53

of Finance Companies Act 1967

Section 53

Exemptions

Amended by2/20151/2020

(1)

This Act does not apply to —

(a)

any bank or merchant bank licensed under the Banking Act 1970; or

(b)

any business of pawnbroking carried on by a person licensed under the Pawnbrokers Act 2015.

Amended by2/20151/2020

(2)

Every co-operative society registered as a credit society under the Co-operative Societies Act 1979 to provide financial services is, to the extent that such services amount to financing business, exempt from section 3 in respect of such services.

(3)

Despite the provisions of this Act, the Authority may exempt any finance company from all or any of the provisions of this Act.

Read in full context — Finance Companies Act 1967 →