Regulation 2
Exemption from section 15A(1) of Act
of Banking (Exemption from Sections 15A and 15B) Order 2020
Subsidiary LegislationIn forceProvision 2 of 3
Regulation 2
Subregulation 1
The Minister exempts any shareholder of Standard Chartered PLC from section 15A(1) of the Act, in relation to the shareholder becoming a substantial shareholder of SC Bank Solutions (Singapore) Limited because of the shareholder’s interest or interests in one or more voting shares in Standard Chartered PLC.
Subregulation 2
The Minister exempts each of the following entities from section 15A(1) of the Act, in relation to the entity becoming a substantial shareholder of SC Bank Solutions (Singapore) Limited:
(a)
Standard Chartered Holdings Limited;
(b)
Standard Chartered Bank;
(c)
Standard Chartered Holdings (Singapore) Private Limited;
(d)
Standard Chartered Bank (Singapore) Limited.