Singapore legislation

Clause 45

Powers of Minister

Where —

(a)

the Commissioner makes a report to the Minister under subsection (3) of section 44 of this Act; or

(b)

any person appeals to the Minister under subsection (5) of section 44 of this Act,the Minister may, without prejudice to the powers conferred by paragraph (b) of subsection (1) of section 16 of this Act, exercise one or more of the following powers, that is to say —

(i)

confirm, vary or reverse any requirement, appointment or direction made by the Commissioner;

(ii)

make such order as he may think fit in relation to the affairs of the bank and exercise any power which the Commissioner may exercise under subsection (2) of section 44 of this Act;

(iii)

direct the Commissioner to present a petition to the High Court for the winding up of the bank by the High Court.

Read in full context — Banking Bill →