Moneylenders Act 2008: Primary legislation regulating moneylending businesses in Singapore. Sets interest rate caps and lending restrictions. Crucial for loans involving licensed moneylenders.
Banking Act (Chapter 19): Regulates banking business and financial transactions in Singapore. Essential when the lender is a bank or financial institution.
Civil Law Act (Chapter 43): Contains key provisions on contractual rights, obligations, interest rates, compound interest, and rules regarding unlawful contracts.
Application of English Law Act: Governs the application of contract law principles in Singapore, based on common law principles derived from English law.
Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices in lending. Applicable when the borrower is a consumer rather than a business entity.
Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data of the parties involved in the loan agreement.
AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations requiring due diligence and reporting obligations in financial transactions.
Interest Rate Restrictions: Statutory limitations and regulations on interest rates that can be charged on loans in Singapore.
Documentation Requirements: Mandatory documentation and disclosure requirements for loan agreements under Singapore law.
Security and Collateral Provisions: Legal framework governing the creation and enforcement of security interests and collateral in Singapore loan transactions.
