Banking Act (Chapter 19): Primary legislation regulating banking institutions and financing activities in Singapore. Contains key requirements for loan documentation and banking practices.
Moneylenders Act (Chapter 188): Regulates money lending practices and documentation requirements when the lender is not a bank or licensed financial institution.
Hire-Purchase Act (Chapter 125): Contains mandatory provisions for vehicle financing, especially relevant if the car loan is structured as a hire-purchase agreement.
Consumer Protection (Fair Trading) Act: Ensures fair trading practices and protects borrowers from unfair practices in financial transactions.
MAS Regulations: Monetary Authority of Singapore regulations covering vehicle financing restrictions, Loan-to-Value (LTV) ratio requirements, and maximum loan tenure requirements.
Contract Law (Chapter 53): Governs basic contract formation requirements and ensures the promissory note is legally binding under Singapore law.
Bills of Exchange Act (Chapter 23): Legislation governing negotiable instruments including promissory notes, defining legal requirements for their validity.
Personal Data Protection Act 2012: Regulates the handling of borrower's personal information and establishes data protection obligations.
MAS Notice 642: Specific notice from Monetary Authority of Singapore regarding motor vehicle loans and their requirements.
Road Traffic Act: Relevant for vehicle registration details and requirements in Singapore.
Stamp Duties Act: Governs the stamping requirements and duties payable on loan documents and agreements.
