Singapore legislation
Section 19
Section 19
Amendment of bank’s constitution
(1)
Every bank incorporated in Singapore must, prior to the making of any amendment or alteration in the memorandum of association and articles of association or other instrument under which it is incorporated, provide to the Authority particulars in writing of the proposed amendment or alteration.
(2)
Every bank whether incorporated inside or outside Singapore must, within 3 months after the making of any amendment or alteration in the memorandum of association and articles of association or other instrument under which it is incorporated, provide to the Authority particulars in writing (verified by a statutory declaration made by a senior officer of the bank) of the amendment or alteration.
(3)
Any bank which contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine of $2,500 for every day or part of a day during which the offence continues after conviction.