Singapore legislation

Section 13A

of Monetary Authority of Singapore Act 1970

Section 13A

Appointment of committees and delegation of powers

Amended by24/200324/200324/200324/2003

(1)

The Authority may appoint from among its directors or other persons who are not directors any number of committees that it thinks fit for purposes which, in the opinion of the Authority, would be better regulated and managed by means of those committees.

Amended by24/2003

(2)

The Authority may, subject to such conditions or restrictions as it thinks fit, delegate to any such committee or any director any of the powers, functions or duties of the Authority under this Act or any other written law, except the power of delegation conferred by this subsection and the power to make subsidiary legislation unless expressly provided under any written law.

Amended by24/2003

(3)

Any power, function or duty delegated under subsection (2) may be exercised or performed by such committee or director (as the case may be) in the name and on behalf of the Authority.

Amended by24/2003

(4)

The Authority may continue to exercise a power conferred upon it, or perform a function or duty under this Act or any other written law, despite the delegation of the power, function or duty under this section.

Amended by24/2003