Singapore legislation

Regulation 22C

of Moneylenders Rules 2009

Regulation 22C

Prescribed time for submitting information to designated credit bureau and requesting for credit report, etc.

Subregulation 1

For the purposes of section 66(3) of the Act, the prescribed time is within the day on which the application mentioned in that provision is received.

Subregulation 2

For the purposes of section 66(5)(a) of the Act, the prescribed time is within the day on which the loan application mentioned in that provision is received.

Subregulation 3

For the purposes of section 66(5)(b) of the Act, the prescribed time is within one day before the loan mentioned in that provision is granted.

Subregulation 4

For the purposes of section 66(7)(b) of the Act, the prescribed time is within the day on which the licensee declines to grant the loan mentioned in that provision.

Subregulation 5

For the purposes of section 68(1) of the Act —

(a)

the time within which information relating to any repayment of a loan or any instalment of repayment of a loan must be submitted is 7 business days after the repayment or instalment of repayment is made; and

(b)

the time within which information relating to the writing off of any debt arising from a loan granted by a licensee must be submitted is 7 business days after the licensee writes off the debt in the licensee’s book.

Read in full context — Moneylenders Rules 2009 →