Effective from Jul 03 2012 - Jul 02 2012
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The Regulations shall regulate the following:
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| | 1. | The maximum limit of finance that may be offered by a finance company.
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| | 2. | Prohibiting or restricting finance companies from conducting certain credit transactions.
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| | 3. | The special conditions to be observed by a finance company in conducting certain credit activities.
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| | 4. | The minimum percentage of collateral proportions to be observed in certain contracts for finance amounts and assets presented as collateral thereof.
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| | 5. | The principles for disclosure of the criteria of the cost of finance and the method of calculation to enable consumers to compare prices.
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| | 6. | Controls necessary to ensure equity of transactions and protection of consumers’ rights.
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| | 7. | Principles of fair distribution of finance profit over maturity period.
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| | 8. | Collaterals for protecting payments made by borrowers and how the finance company disposes of the same.
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| | 9. | Debts collection by finance companies and provisions of licensing.
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| | 10. | Any other matters regulated by the Regulations in accordance with this Law.
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