Singapore legislation
Clause 48
of Banking Bill
Clause 48
Remuneration and expenses of Commissioner and others in certain cases
(1)
The Commissioner may at any time (whether or not the appointment of such person has terminated) fix the remuneration and expenses to be paid by a bank to any person appointed by the Commissioner under subsection (2) of section 44 of this Act or by the Minister under section 45 of this Act, to advise the bank in the proper conduct of its business.
(2)
Where the Commissioner has assumed control of the business of a bank under paragraph (c) of subsection (2) of section 44 of this Act or pursuant to an order of the Minister under paragraph (ii) of section 45 of this Act or some other person has assumed control of the business of a bank pursuant to a direction of the Commissioner under paragraph (c) of subsection (2) of section 44 of this Act or an order of the Minister under paragraph (ii) of section 45 of this Act, the Commissioner, may at any time, whether or not he or such other person has ceased to be in control of the business of the bank, fix the remuneration and expenses to be paid by the bank to him and to any person employed or authorised by him under section 3 of this Act to assist him in the control of and the carrying on of the business of the bank, or to such other person, as the case may be.