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 3 · Reserve Funds, Dividends, Balance Sheets and Information
19. Restriction on payment of dividends by finance companies
Feedback & supportA finance company must not pay any dividend on its shares until all its capitalised expenditure (including preliminary expenses, organisation expenses, share selling commission, brokerage, amount of losses incurred and any item of expenditure not represented by tangible assets) has been completely written off.
finance company
Defined · s 2
“finance company” means any company licensed under this Act to carry on financing business, and all branches and offices in Singapore of such a company are deemed to be one finance company for the purposes of this Act;