Singapore legislation

Clause 22

Amendment of section 39

Section 39 of the principal Act is hereby amended —

(a)

by deleting the word “or” appearing at the end of paragraph (b) thereof;

(b)

by deleting the full-stop appearing at the end of paragraph (c) thereof and substituting therefor the expression “; or ”;

(c)

by inserting immediately after paragraph (c) thereof the following new paragraph: —“(d)any business of pawnbroking carried on by a person licensed under the Pawnbrokers Ordinance (Cap. 195).”;

(d)

by renumbering the existing section as subsection (1); and

(e)

by adding thereto the following new subsection: —“(2) Notwithstanding any provisions in this Act, the Commissioner, with the approval of the Minister, may exempt any finance company from any or all of the provisions of this Act.”.

Read in full context — Finance Companies (Amendment) Bill →