22. Verifying annual income of cardholder or guarantor with no fixed monthly income

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.