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laws.sgby aturio
In force2020 Revised Edition
Contents

Part 2 · Licensing of Finance Companies

7A. Capital ratio

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(1)

The Authority may require every finance company to maintain capital funds in Singapore in proportion to its total assets or to every category of assets at such ratio or ratios as may from time to time be determined by the Authority by written notice.

(2)

A finance company must maintain a capital adequacy ratio of at least 12% or such other percentage as may be determined by the Authority from time to time, as calculated in accordance with such form, content and manner as may be determined by the Authority by written notice.

(3)

The Authority may suspend or restrict the operations of a finance company which fails to comply with subsection (2) or any requirement of the Authority under subsection (1).

Report

Read on from s 8

Part 3

Reserve Funds, Dividends, Balance Sheets and Information

Read on from Part 3

Part 4

Regulation of Business

Read on from Part 4

Part 5

Minimum Liquid Assets

Read on from Part 5

Part 6

Inspection and Control of Finance Companies

Read on from Part 6

Part 6A

Voluntary Transfer of Business

Read on from Part 6A

Part 7

Submission of Financial Statements and Duties of Auditors

Read on from Part 7

Part 8

Miscellaneous

Read on from Part 8