Singapore legislation
Clause 19
Clause 19
Examination of affairs of bank on application by shareholders or depositors
(1)
The Minister may cause an investigation under conditions of secrecy, to be made by the Inspector of the affairs of a bank on the application —
of shareholders holding not less than one-third of the total number of shares in such bank for the time being issued;
of depositors holding deposits of the value of not less than one-half of the gross value of the total deposits within Singapore shown in the last balance-sheet of such bank.
(2)
Such application shall be supported by such evidence as the Minister may require for the purpose of satisfying himself that the applicants have good reason for requiring such investigation. The Minister may also require the applicants to give such security as he may deem sufficient for the payment of the costs of any investigation.