Singapore legislation

Clause 2

Amendment of section 4

Section 4 of the Monetary Authority of Singapore Act (referred to in this Act as the principal Act) is amended —

(a)

by deleting the word “and” at the end of paragraph (b);

(b)

by inserting, immediately after paragraph (b), the following paragraph:“(c)to foster a sound and progressive financial services sector; and”; and

(c)

by re-lettering the existing paragraph (c) as paragraph (d).