Banking Act (Cap. 19): Primary legislation governing banking institutions in Singapore, including requirements for loan documentation and banking operations
Moneylenders Act (Cap. 188): Regulates moneylending activities and sets requirements for loan documentation and disclosure
Securities and Futures Act (Cap. 289): Relevant if the loan involves securities as collateral or security arrangements
Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in the payoff letter and related documentation
Contract Law (Amendment) Act 2012: Provides the legal framework for contract formation and enforcement in Singapore
Electronic Transactions Act (Cap. 88): Governs electronic transactions and digital signatures if the payoff letter is issued electronically
MAS Guidelines: Regulatory guidelines from the Monetary Authority of Singapore affecting banking practices and loan documentation
MAS Notice 635: Specific guidelines on banking secrecy and confidentiality requirements for customer information
ABS Guidelines: Association of Banks in Singapore guidelines for standardized banking practices and documentation
Interest Rate Disclosure: Requirements for clear disclosure of interest rates, per diem calculations, and total payoff amount
Security Release Provisions: Requirements for properly documenting the release of any security or collateral upon loan payoff
Prepayment Requirements: Regulations regarding prepayment penalties and their disclosure in payoff documentation
AML Regulations: Anti-money laundering regulations that may affect payment instructions and documentation requirements
