This notice applies to all finance companies (FCs) incorporated in Singapore. It sets out the requirements for FCs to notify and seek approval from MAS first if they intend to acquire 20% or more of the share capital of any company. The aim is to ensure that FCs do not diversify into areas which are inconsistent with their business or invest in companies to an undesirable extent.
21 Nov 2005
MAS Notice 821 dated 21 November 2005 takes effect.