Section 55ZJ

Subject to section 55R and the modifications mentioned in subsection (2), the provisions in Part 7 (except sections 41, 45(7) and 47) apply to or in relation to a merchant bank in Singapore as they apply to or in relation to a bank in Singapore.

The modifications mentioned in subsection (1) are a reference in section 45 to a parent bank is to a financial institution incorporated, formed or established outside Singapore of which a foreign‑owned merchant bank incorporated in Singapore or merchant bank incorporated outside Singapore (as the case may be) is a subsidiary.