Regulation 6

the sum of all amounts outstanding on —

all credit cards and charge cards (other than guaranteed credit cards, guaranteed charge cards, corporate cards and business cards) issued to the Singapore cardholder by the card issuer or any of its affiliated corporations; and

all supplementary credit cards and supplementary charge cards issued under any credit card or charge card referred to in sub-paragraph (i); and

where the Singapore cardholder is also a Singapore guarantor for one or more guaranteed credit cards or guaranteed charge cards issued by the card issuer or any of its affiliated corporations, the sum of all amounts outstanding on such guaranteed credit cards and guaranteed charge cards.

the sum of all amounts outstanding on —

all fully unsecured or partially secured credit cards and charge cards (other than guaranteed credit cards, guaranteed charge cards, corporate cards and business cards) issued to the Singapore cardholder by the card issuer or any of its affiliated corporations;

all supplementary credit cards and supplementary charge cards issued under any credit card or charge card referred to in sub-paragraph (i);

where the Singapore cardholder is also a Singapore guarantor for one or more fully unsecured or partially secured guaranteed credit cards or guaranteed charge cards issued by the card issuer or any of its affiliated corporations, the sum of all amounts outstanding on such guaranteed credit cards and guaranteed charge cards;

the sum of all amounts outstanding on all fully unsecured or partially secured non-card credit facilities (other than the loans referred to in paragraph (9)) granted to the Singapore cardholder by the card issuer or any of its affiliated corporations.

the latest market value of the assets documented in the lender’s records; or

where such latest market value is not available —

the market value of the assets at the time the facility was given; or

where there was no established market value of the assets referred to in sub-paragraph (i), the value approved by the Authority under regulation 4(4)(b).

a reference to a credit card or charge card issued by a card issuer shall include a credit card or charge card issued by another card issuer with whom the first-mentioned card issuer merges or consolidates, or whose business (in respect of the issue of credit cards and charge cards) the first‑mentioned card issuer acquires; and

a reference to a fully unsecured or partially secured non‑card credit facility granted by a card issuer or any of its affiliated corporations includes a fully unsecured or partially secured non-card credit facility granted by another person with whom the card issuer or its affiliated corporation, as the case may be, merges or consolidates, or whose business (in respect of the granting of fully unsecured or partially secured non-card credit facilities) the card issuer or its affiliated corporation, as the case may be, acquires.

the amount of any loans specified in paragraph (9) that are granted to the Singapore cardholder by any lender;

where the Singapore cardholder is also a Singapore guarantor for one or more fully unsecured or partially secured guaranteed credit cards or guaranteed charge cards, up to 80% of the total amounts outstanding on all those guaranteed credit cards and guaranteed charge cards;

annual fees in respect of fully unsecured or partially secured credit cards and charge cards issued, and fully unsecured or partially secured non-card credit facilities granted, by any lender to the Singapore cardholder;

any transaction, fees, interest and charges (including late payment charges) in respect of which the Singapore cardholder has raised a dispute with the lender which charged the transaction or which imposed the fees, interest or charges;

any fees, interest and charges charged on —

the annual fees referred to in sub-paragraph (c); and

any transaction, fees, interest and charges referred to in sub-paragraph (d); and

amounts outstanding which accrue interest at an effective interest rate of zero.

the furnishing of any security to the Government in connection with any application for the deferment of any liability under the Enlistment Act (Cap. 93);

the furnishing of any security to the Government in connection with the employment of a foreign domestic worker;

the defraying of expenses which are directly attributable to a course of education, including tuition fees and the costs of accommodation, textbooks and computer equipment, where the lender who granted the loan has taken reasonable steps to ascertain that the proceeds of the loan will be applied only towards the defraying of such expenses;

the business of a sole proprietor or partnership (other than a limited liability partnership) of which the Singapore cardholder is the sole proprietor or a partner, as the case may be;

the repayment of any amount owing by the Singapore cardholder under another non-card credit facility which has ceased to be fully secured as a result of a fall in the value of the security given for that facility, where the lender who granted the loan has taken reasonable steps to ensure that the proceeds of the loan are paid to the person who granted that facility;

any renovation (the loan being referred to in this sub‑paragraph as a renovation loan), where —

the lender who granted the renovation loan has taken reasonable steps to ascertain that the proceeds of the renovation loan will only be applied towards the defraying of the costs of renovations which have been made or will be made;

the renovation loan repayment period does not exceed 5 years;

in the case of a renovation loan granted jointly to the Singapore cardholder and one or more other persons (referred to in this sub-paragraph as a joint renovation loan), that other person or each of those other persons is —

a spouse, child, parent or sibling of the Singapore cardholder; or

a fiancé or fiancée of the Singapore cardholder, as the case may be, and the Singapore cardholder has provided or agreed to provide a copy of his marriage certificate to the lender not more than 3 months after the first disbursement of the renovation loan; and

the aggregate of the following (save for any fees, interest or charges (including late payment charges) imposed by the lender who granted the loan) is not more than 6 months’ income of the Singapore cardholder or $30,000, whichever is the lower:

the amount of the renovation loan, or the amount of the Singapore cardholder’s share of the joint renovation loan (derived by dividing the amount of that loan by the number of persons to whom the loan is granted), as the case may be;

the sum of all amounts outstanding on both of the following:

the defraying of the costs of any medical treatment, where the lender who granted the loan has taken reasonable steps to ascertain that the proceeds of the loan will be applied only towards the defraying of such costs;

the subscription of shares (the loan being referred to in this sub-paragraph as a share financing loan), where —

the aggregate of the following does not exceed 80% of the amount to be paid by the Singapore cardholder for the subscription of those shares:

the amount of the share financing loan granted by the lender or, where part of the loan may be used for a purpose other than the subscription of those shares, the amount of the loan which is to be used for the subscription of those shares;

all other loans obtained by the Singapore cardholder from any other person for the subscription of those shares or, where part of the loans may be used for a purpose other than for the subscription of those shares, the amounts of the loans which are to be used for the subscription of those shares;

all the discounts, rebates and other benefits granted by any person to the Singapore cardholder in relation to the subscription of those shares; and

the lender referred to in sub-paragraph (i)(A) has taken reasonable steps to ensure that sub‑paragraph (i) is complied with, including obtaining a written declaration from the Singapore cardholder as to both of the following:

whether the Singapore cardholder has obtained any loan from any other person for the subscription of those shares, the amount of such loan (and where part of the loan is to be used for purposes other than the subscription of those shares, the amount of the loan which is to be used for the subscription of those shares) and other relevant details of such loan;

whether the Singapore cardholder has received any discount, rebate or other benefit from any other person in relation to the subscription of those shares, and the amount and other details of such discount, rebate or benefit;

any purpose where the loan is made to the Singapore cardholder in his capacity as an officer (other than a director) or employee (other than an excluded employee of a direct insurer) of the lender (other than a finance company) granting the loan, where —

the duration of employment as set out in the contract of employment of the Singapore cardholder is for at least one continuous year or, where the duration of employment is less than one continuous year, the terms of the contract allow for the duration of employment to be extended beyond one year; and

the aggregate of the following is not more than one year’s emoluments of the Singapore cardholder:

the loan amount (other than in relation to loans granted for any of the purposes specified in sub-paragraphs (a) to (h));

the aggregate of the amounts outstanding on all earlier fully unsecured or partially secured non‑card credit facilities (other than in relation to loans granted for any of the purposes specified in sub-paragraphs (a) to (h)) granted by way of a loan or loans by the lender to the Singapore cardholder, in his capacity as an officer or employee of the lender;

the total outstanding unsecured amount of the Singapore cardholder with the lender;

the repayment of any amount owing by the Singapore cardholder under a loan granted for any of the purposes specified in sub‑paragraphs (a) to (i) (“original loan”) where the lender is not the person who granted the original loan and the lender has taken reasonable steps to ensure that the proceeds of the loan are paid to the person who granted that original loan;

the repayment of any amount owing by the Singapore cardholder under a loan granted for the purpose specified in sub‑paragraph (j) (“original refinancing loan”) where the lender is not the same as the person who granted the original refinancing loan and the lender has taken reasonable steps to ensure that the proceeds of the loan are paid to the person who granted that original refinancing loan.

the lender grants one or more extensions to the loan repayment period;

each extension is granted pursuant to a request by the Singapore cardholder that is made between 18 February 2020 and the expiry date (both dates inclusive); and

the total period of all the extensions does not exceed 36 months.

where the aggregate of the amounts referred to in paragraph (9)(h)(i) exceeds 80% of the amount to be paid by the Singapore cardholder for the subscription of the shares, then the entire amount of the share financing loan for the subscription of those shares referred to in paragraph (9)(h)(i)(A) shall be included in determining the total outstanding unsecured amount or cumulative total outstanding unsecured amount of the Singapore cardholder; and

where the aggregate of the amounts referred to in paragraph (9)(i)(ii) exceeds one year’s emoluments of the Singapore cardholder as an officer or employee of the lender, the total of sub-paragraphs (A), (B) and (C) of paragraph (9)(i)(ii) shall be included in determining the total outstanding unsecured amount or cumulative total outstanding unsecured amount of the Singapore cardholder.