Singapore legislation
Clause 3
Clause 3
Amendment of section 9
Section 9 of the Banking Act is amended —
(a)
by deleting the words “$800 million” in subsections (1)(a) and (b), (2), (4) and (5) and substituting in each case the words “$1,500 million”;
(b)
by deleting the words “8th October 1993” in subsections (1)(a) and (b), (2), (4) and (5) and substituting in each case the words “the appointed day”; and
(c)
by inserting, immediately after subsection (7), the following subsection:“(8) In this section, “appointed day” means the date of commencement of the Banking (Amendment) Act 1996.”.