Regulation 22

For the purposes of regulations 13(2)(a) and (b), (3)(a) and (b), (4) and (5) and 16(4)(b), read with the First Schedule, in verifying the annual income of a cardholder or guarantor who does not have a fixed monthly income, a card issuer may rely on the most recent Notice of Assessment from IRAS pertaining to the cardholder or guarantor even if the Notice is dated more than 3 months before the relevant event or date specified in regulation 13(8) or 16(4)(b), as the case may be.