Singapore legislation

Clause 47

Regulations

(1)

The Minister may make regulations for or in respect of every purpose which is deemed by him necessary for carrying out the provisions of this Act and for the prescribing of any matter which is authorised or required under this Act to be so prescribed.

(2)

Without prejudice to the generality of the foregoing power, the Minister may make regulations relating to insurance prescribing —

(a)

rates for insurance in respect of any class or classes of goods;

(b)

different rates for insurance in respect of different classes of goods;

(c)

rates on a sliding scale; or

(d)

rates according to or upon any specified principle or criterion.

(3)

In addition to the powers conferred by subsections (1) and (2) of this section the Minister may make regulations providing —

(a)

for the minimum down payments and maximum maturity periods for different types or classes of loans or advances granted by owners;

(b)

for submission by owners who enter into hire-purchase agreements of such annual and periodic accounts and returns as may be prescribed and in such form as may be prescribed; and

(c)

for collection, at such intervals or on such occasion and on such form as may be prescribed, of statistical information on such matters relating to hire-purchase as may be prescribed.

Read in full context — Hire-Purchase Bill →