Singapore legislation
Clause 26
of Banking Bill
Clause 26
Trade
(1)
No bank shall engage, whether on its own account or on a commission basis, and whether alone or with others, in the wholesale or retail trade, including the import or export trade, except in the course of the satisfaction of debts due to it for the purpose of carrying on its banking business.
(2)
Any bank which contravenes the provisions of subsection (1) of this section shall be guilty of an offence under this Act.