Singapore legislation
Regulation 6AA
Regulation 6AA
Exemptions from section 5A of Act
Subregulation 1
A person who, in the course of any profession, vocation, trade or business, uses the name, logo or trade mark of a bank incorporated in Singapore (other than a foreign-owned bank incorporated in Singapore) is exempt from section 5A(1) of the Act if —
the person uses the bank’s name, logo or trade mark in connection with an event that is —
organised by the person; and
sponsored by the bank; and
the bank permits the person to use the bank’s name, logo or trade mark in connection with the event.
Subregulation 2
A bank incorporated in Singapore (other than a foreign-owned bank incorporated in Singapore) that causes or knowingly permits a person to use the bank’s name, logo or trade mark in the course of the person’s profession, vocation, trade or business is exempt from section 5A(2) of the Act if —
the bank causes or permits the person to use the bank’s name, logo or trade mark only in connection with an event that is —
organised by the person; and
sponsored by the bank; and
the board of directors of the bank approves the person’s use of the bank’s name, logo or trade mark in connection with the event.
Subregulation 3
A person who, in the course of any profession, vocation, trade or business, uses the name, logo or trade mark of a foreign-owned bank incorporated in Singapore is exempt from section 5A(1) of the Act if —
the bank permits the person to use the bank’s name, logo or trade mark;
the bank has not entered into any partnership, joint venture or other arrangement with the person to carry on any business prescribed by regulation 23G or 23I; and
the person is not an entity in which the bank acquired or holds a major stake for which the bank is exempt from section 32 of the Act under regulation 7B.
Subregulation 4
A foreign-owned bank incorporated in Singapore that causes or knowingly permits a person to use the bank’s name, logo or trade mark in the course of the person’s profession, vocation, trade or business is exempt from section 5A(2) of the Act if —
the bank has not entered into any partnership, joint venture or other arrangement with the person to carry on any business prescribed by regulation 23G or 23I; and
the person is not an entity in which the bank acquired or holds a major stake for which the bank is exempt from section 32 of the Act under regulation 7B.