Singapore legislation
Section 60
Section 60
Declaration of holidays
(1)
The Authority may, at any time by notice published in the Gazette, declare any day or days as a bank holiday or holidays, and prohibit banks in Singapore or merchant banks in Singapore from conducting, during the bank holiday or holidays —
such activities as may be specified in the notice; or
all activities other than such activities as may be specified in the notice.
(2)
[Deleted by Act 5 of 2016]
(3)
A bank holiday declared under subsection (1) is not necessarily a public holiday and nothing in this section affects any written law which may from time to time be in force in Singapore relating to public holidays.
(4)
Any reference to a bank holiday in any written law which is in force in Singapore includes —
any day declared to be a bank holiday under this section; and (b)any day which is a public holiday within the meaning of any written law which is in force in Singapore relating to public holidays.
(5)
Any bank or merchant bank which contravenes any prohibition under a notice mentioned in subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.
(6)
In this section, “day” includes a part of a day.