Singapore legislation
Regulation 23A
Regulation 23A
Increasing aggregate credit limits, credit limits of relevant cards or facilities, etc., on request
Subregulation 1
A card issuer may increase the aggregate credit limit granted by the card issuer to a principal cardholder without complying with the requirements of regulation 12(1)(b) if the conditions in paragraph (8) are met.
Subregulation 2
A card issuer may increase the aggregate credit limit granted by the card issuer to a principal cardholder who meets the description of an individual referred to regulation 13(2)(b) without complying with the requirements of that provision if the conditions in paragraph (8) are met.
Subregulation 3
A card issuer may permit amounts to be charged to a credit card or charge card issued to a principal cardholder who is a Singapore cardholder referred to in regulation 14(2) if the conditions in paragraph (8) are met despite —
that it would result in —
the principal cardholder’s aggregate outstanding card amount exceeding the principal cardholder’s maximum credit limit; or
the principal cardholder’s total outstanding unsecured amount exceeding the principal cardholder’s overall credit limit; or
that —
the principal cardholder’s aggregate outstanding card amount already exceeds the principal cardholder’s maximum credit limit; or
the principal cardholder’s total outstanding unsecured amount already exceeds the principal cardholder’s overall credit limit.
Subregulation 4
A card issuer may permit amounts to be charged to any credit card or charge card it has issued to a principal cardholder who is a Singapore cardholder referred to in regulation 16(2) if the conditions in paragraph (9) are met despite that there is an amount outstanding that is past due for 60 days or more on —
any credit card or charge card issued to the principal cardholder by the card issuer; or
any fully unsecured and partially secured non‑card credit facility granted to the principal cardholder by the card issuer.
Subregulation 5
A card issuer may increase the aggregate credit limit granted to a principal cardholder who is a citizen of Singapore or a permanent resident referred to in regulation 16(6) and who has any amount outstanding on any credit card or charge card issued, or any fully unsecured or partially secured non‑card credit facility granted, by any lender that is past due for 60 consecutive days if the conditions in paragraph (8) are met.
Subregulation 6
A card issuer may permit amounts to be charged to a fully unsecured or partially secured credit card or charge card issued by the card issuer to a Singapore cardholder referred to in regulation 17(2)(a) if the conditions in paragraph (9) are met despite that the requirements specified in regulation 17(6) have not been fulfilled.
Subregulation 7
A card issuer may increase the aggregate credit limit granted to a principal cardholder who is a Singapore cardholder referred to in regulation 17(2)(c) whose cumulative total outstanding unsecured amount exceeds the principal cardholder’s specified income (as defined in regulation 17(10) and (11)) for 3 consecutive months if the conditions in paragraph (8) are met.
Subregulation 7A
A card issuer may increase the credit limit of a relevant card or facility referred to in regulation 17A(3), in the circumstances specified in regulation 17A(2)(a)(i) and (ii) if the conditions in paragraph (8A) are met.
Subregulation 8
For the purposes of paragraphs (1), (2), (3), (5) and (7), the conditions are —
the principal cardholder requests the card issuer to increase the aggregate credit limit;
the request is made by the principal cardholder in a document signed by the principal cardholder;
the request is for a purpose that has been specified by the Authority in writing to the card issuer; and
the increase of the aggregate credit limit requested is for a reasonable amount, and for a reasonable period, taking into account the purpose of the request for the increase.
Subregulation 8A
For the purposes of paragraph (7A), the conditions are —
the principal cardholder requests the card issuer to increase the credit limit of a relevant card or facility referred to in regulation 17A(3);
the request is made by the principal cardholder in a document signed by the principal cardholder;
the request is for a purpose that has been specified by the Authority in writing to the card issuer; and
the increase in credit limit granted by the card issuer is only for a reasonable amount, and for a reasonable period of time, taking into account the purpose of the request for the increase.
Subregulation 9
For the purposes of paragraphs (4) and (6), the conditions are —
the principal cardholder requests the card issuer to permit the amounts to be charged;
the request is made by the principal cardholder in a document signed by the principal cardholder;
the request is for a purpose that has been specified by the Authority in writing to the card issuer; and
the amounts to be charged are reasonable and are to be charged within a reasonable period, taking into account the purpose of the request for the amounts to be charged.
Subregulation 10
In this regulation, a reference to the principal cardholder means the cardholder, if no supplementary credit card or supplementary charge card is issued under the cardholder’s credit card or charge card.