Clause 6

by deleting subsection (1) and substituting the following subsections:“(1) Every bank shall exhibit in a conspicuous position in each of its offices and branches in Singapore —

a copy of its latest audited annual balance-sheet and profit and loss account, together with any notes thereon, and a copy of the report of the auditors, except that in the case of a bank incorporated outside Singapore, those statements may be made in a manner that complies with the law for the time being applicable in the place of its incorporation or origin;

the full and correct names of all persons who are directors for the time being of the bank; and

the names of all subsidiary companies for the time being of the bank.(1A) Every bank shall, within 6 months after the close of each financial year or within such period as the Authority may approve, publish in at least two local daily newspapers, one published in the English language and one published in either the Malay, Chinese or Tamil language, a copy of its latest audited annual balance-sheet and profit and loss account, containing at least such information as the Authority may require by notice in writing, except that in the case of a bank incorporated outside Singapore those statements may be made in a manner that complies with the law for the time being applicable in the place of its incorporation or origin.(1B) The Authority may by notice in writing require a bank to publish in addition to its balance-sheet and profit and loss account under subsection (1A) such additional information relating to the accounts of that bank for any financial year as the Authority thinks fit.”;

by deleting the words “subsection (1)” in subsection (2) and substituting the words “subsections (1) and (1A)”; and

by deleting subsection (5) and substituting the following subsection:“(5)(a)In the case of a bank incorporated in Singapore —

the annual balance-sheet and profit and loss account of the bank referred to in subsections (1) and (1A);

the balance-sheet and profit and loss account referred to in subsection (3); and

the half year interim profit and loss account of the bank,shall be in such form as the Authority may approve.(b)In the case of a bank incorporated outside Singapore, only the balance-sheet and profit and loss account referred to in subsection (3) shall be in such form as the Authority may approve.”.