Clause 2

In this Act, unless the context otherwise requires —“Authority” means the Monetary Authority of Singapore established under section 3 of this Act;“bank” means a bank licensed under the Banking Act, 1970 (Act of 1970);“board” means the board of directors of the Authority;“director” means a director appointed under subsection (1) of section 8 of this Act and the chairman of the board, the deputy chairman and the Accountant-General;“managing director” means a director appointed under subsection (1) of section 9 of this Act;“Minister” means the Minister charged with the responsibility for finance.