In force1985 Revised EditionCurrent version · 1985 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
25. Loan to director, etc.
Feedback & supportIf any loan is made by a trust company to any director or other officer or employee thereof in contravention of section 19, all directors and officers of the company who made the loan or assented thereto are jointly and severally liable to the company for the amount thereof with interest.
trust company
Defined · s 2
“trust company” means a company registered as a trust company under this Act.