Singapore legislation
Regulation 13
Regulation 13
Statements of account
Subregulation 1
The statement of account for a loan required under section 34(1) of the Act to be supplied by a licensee to every borrower must be in Form 2 and must contain the following particulars:
the business name of the licensee;
the address and telephone number of the place of business of the licensee at which the loan was granted;
the date on which the loan was granted, the principal or credit limit of the loan, the nominal interest rate and the amount of interest charged;
in the case of a revolving credit loan, a list of the amount and date of every drawdown during the statement period;
a list of every item of interest (including late interest) and permitted fees (if any) payable by the borrower, the amount of each item, and the date each amount was payable during the statement period;
a list of payments in respect of the loan received by the licensee during the statement period;
the portions of each payment mentioned in sub‑paragraph (f) appropriated to the repayment of principal, the payment of interest (including late interest) and the payment of permitted fees (if any);
the total principal, interest (including late interest) and permitted fees (if any) outstanding as at the date the statement is prepared.
Subregulation 2
In paragraph (1), “statement period”, in relation to a statement of account for a loan, means the period starting on the date on which the loan was granted and ending on the date on which the statement of account is prepared.