Regulation 9

This regulation shall only apply to a supplementary credit card or supplementary charge card where the principal cardholder concerned is a Singapore cardholder.

Subject to paragraph (3), a card issuer shall not issue a supplementary credit card or supplementary charge card to any individual who is below 18 years of age, except where the individual requires the use of the card for the purposes of his overseas travel.

A card issuer which issues a supplementary credit card or supplementary charge card pursuant to paragraph (2) shall specify a period of validity for the card that takes into consideration what would be a reasonable period for which the use of the card is required for the purpose of the individual’s overseas travel.

Any card issuer which contravenes paragraph (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.

It shall be a defence for a card issuer charged with an offence under paragraph (4) to prove that it had taken all reasonable steps to verify that the individual required the use of the supplementary credit card or supplementary charge card for the purposes of his overseas travel.