Banking Act 1970 · 2020 Revised Edition · Part 3 · Licensing of Banks
8. Licence fees
Feedback & supportEvery bank in Singapore must pay the annual licence fee as the Authority may, by notification in the Gazette, prescribe.
bank in Singapore
“bank in Singapore” means —(a)a bank incorporated in Singapore; or(b)in the case of a bank incorporated outside Singapore, the branches and offices of the bank located within Singapore;
The Authority may prescribe different licence fees in respect of different classes or categories of banks and the fees apply uniformly to those classes or categories.
The manner of payment of the licence fee is to be as specified by the Authority.
licence
“licence” means —(a)a bank licence granted or held under section 7 or 79; or(b)a merchant bank licence granted under section 55S or treated as having been granted under section 64 of the Banking (Amendment) Act 2020;