Updated 20 January 2020 The Payment Services Act (“PSA”) will commences on 28 January 2020. MAS has issued the Guidelines on Licensing for Payment Service Providers, Guideline No: PS-G01 (18 December 2019) and specimen forms for PSA. Summary of Considerations for Payments Service Providers If you provide any service, incidental to your core business or […]
The article discusses the impact of the Moneylenders (Amendment) Rules 2015 and specifically whether there is a genuine triable issue that the refinancing loans contain excessive interests and the transactions are unconscionable or substantially unfair, such that the court can re-open the loan transactions under the Moneylenders Rules 2015.
By Ronald JJ Wong, Director Significance: Singapore High Court construes “good faith” in banking standard terms in the context of unauthorised fund transfers, finds that circumstances were not sufficient to put a reasonable banker on suspicion regarding unauthorised transfers, and finds on reasonableness of exclusion clauses under the unfair contract terms act. Summary: The plaintiff […]