Singapore legislation
Clause 22
of Banking Bill
Clause 22
Information to be furnished by banks
(1)
Every bank shall furnish to the Commissioner at such time and in such manner as the Commissioner may prescribe, all such information as the Commissioner may reasonably require for the proper discharge of his functions.
(2)
Every bank shall send to the Commissioner and the Chief Statistician —
not later than fifteen days after the last day of each month a statement in the form set out in the First Schedule to this Act showing the assets and liabilities of its banking offices and branches in Singapore at the close of business on the last business day of the preceding month;
not later than one month after the last day of each quarter of a calendar year, a statement in the form set out in the Second Schedule to this Act giving an analysis of loans and advances of its banking offices and branches in Singapore as at the 31st day of March, 30th day of June, 30th day of September and the 31st day of December, respectively; and
not later than six months after the close of its financial year a statement in the form set out in the Third Schedule to this Act showing the income and expenditure in respect of its banking business in Singapore.
(3)
The Commissioner may vary or amend the forms set out in the First, Second and Third Schedules to this Act.
(4)
The Commissioner may require any statement submitted to him pursuant to subsections (1) and (2) of this section to be accompanied by a certificate —
of the auditor appointed by the bank pursuant to subsection (1) of section 53 of this Act; or
of any other auditor appointed by the Commissioner pursuant to subsection (2) of section 53 of this Act,as to whether in the opinion of the auditor, the statement or information is correct.
(5)
Any information received from a bank under this section shall be regarded as secret between that bank, the Commissioner and the Chief Statistician.
(6)
Nothing in this section shall prevent the Chief Statistician or the Commissioner from preparing and publishing consolidated statements aggregating such information as may be furnished under this section.
(7)
Any bank which fails or neglects to furnish any information required by the Commissioner or the Chief Statistician under the provisions of this section shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding five thousand dollars and in the case of a continuing offence to a further fine of one thousand dollars for every day during which the offence continues after conviction.