In forceAmended2004 Revised Edition

Contents

3. Licence fees

Amended

Last amended by an amending law of 2021. 2 amendments in all.

(1)

The annual licence fee payable by a bank under sections 8(1) and 13(1) of the Act for each calendar year or part of a calendar year shall be as follows:

(a)

in respect of a full banking licence —

(i)

for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $125,000;

(ii)

for each branch of a bank in Singapore, other than a limited purpose branch $10,000; and

(iii)

for each limited purpose branch $1,000;

(b)

in respect of a wholesale banking licence —

(i)

for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $100,000; and

(ii)

for each limited purpose branch $1,000.

(c)

[Deleted by S 164/2019 wef 01/04/2019]

(2)

The annual licence fee payable by a merchant bank under section 8(1) of the Act as applied by section 55ZB(1) of the Act for each calendar year or part of a calendar year is $35,000.

(3)

The Authority may waive or refund, wholly or in part, any fee mentioned in sub-paragraph (1) or (2).

Subregulation 1

The annual licence fee payable by a bank under sections 8(1) and 13(1) of the Act for each calendar year or part of a calendar year shall be as follows:

(a)

in respect of a full banking licence —

(i)

for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $125,000;

(ii)

for each branch of a bank in Singapore, other than a limited purpose branch $10,000; and

(iii)

for each limited purpose branch $1,000;

(b)

in respect of a wholesale banking licence —

(i)

for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $100,000; and

(ii)

for each limited purpose branch $1,000.

(c)

[Deleted by S 164/2019 wef 01/04/2019]

Subregulation 2

The annual licence fee payable by a merchant bank under section 8(1) of the Act as applied by section 55ZB(1) of the Act for each calendar year or part of a calendar year is $35,000.

Subregulation 3

The Authority may waive or refund, wholly or in part, any fee mentioned in sub-paragraph (1) or (2).

Report

Read on from reg 4