This notice applies to all finance companies in Singapore. Directors of finance companies, who have interest in a contract or proposed contract, are to declare the nature of their interests at meetings with directors.
Full disclosure is to include credit facilities extended by finance companies to their directors, whether directly or indirectly. An interest of a member of a director's family is treated as the interest of the director.
01 Dec 1983
BS (FC) Circular No. 2/75 dated 26 February 1975 is cancelled.