In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Finance Companies Act 1967 · 2020 Revised Edition · Part 2 · Licensing of Finance Companies
16. Effect of revocation of licence
Feedback & support(1)
Where an order of revocation becomes effective under section 15 —
(a)
notice of the revocation must be published in the Gazette; and
(b)
the finance company must, from the date of the notice, cease to transact any financing business in Singapore except as may be approved by the Authority for the purpose of winding up its financing business.
(2)
Subsection (1)(b) does not affect the enforcement by any person of any right or claim against the finance company or by the finance company of any right or claim against any person.