Singapore legislation

Clause 2

of Post Office Savings Bank of Singapore (Amendment) Bill

Clause 2

Repeal and re-enactment of section 4

Section 4 of the Post Office Savings Bank of Singapore Act, 1971 (referred to in this Act as the principal Act) is repealed and the following section substituted therefor:“Functions of the Bank

4. The functions of the Bank shall be —

(a)

to carry on the general business of a savings bank and to promote saving and encourage thrift; and

(b)

to mobilise domestic savings for the purpose of public development.”.

Read in full context — Post Office Savings Bank of Singapore (Amendment) Bill →