Moneylenders Act 2008: Primary legislation governing money lending in Singapore. Regulates maximum interest rates, loan terms, and licensing requirements for moneylenders. Essential if the lender is a licensed moneylender.
Civil Law Act (Cap. 43): Foundational legislation governing civil law matters in Singapore, including contract formation, enforcement, and provisions relating to guarantees and securities.
Banking Act (Cap. 19): Regulates banking institutions and their lending practices. Relevant if the lender is a financial institution, covering aspects of loans, interest rates, and security requirements.
Contract Law (Amendment) Act 2012: Updates to contract law principles affecting formation, terms, and enforcement of contracts including loan agreements in Singapore.
Usury (Money-Lending) Act: Legislation controlling usurious interest rates and unfair lending practices in Singapore.
Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in loan agreements and related documentation.
Unfair Contract Terms Act: Protects parties from unfair terms in contracts, including loan agreements, and sets boundaries for contractual fairness.
Consumer Protection (Fair Trading) Act: Ensures fair trading practices and protects borrowers from unfair practices in lending transactions.
Bankruptcy Act: Relevant for default scenarios and enforcement of loan agreements, outlining procedures and protections in case of borrower bankruptcy.
MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore governing lending practices and financial institution behavior.
