Clause 3

by deleting paragraph (i) of subsection (4) and substituting the following paragraph :“(i)the information relates solely to credit facilities granted by a branch of a bank incorporated outside Singapore and is required by the supervisory authority which is responsible for regulating the head office of the bank for the sole purpose of supervision of the bank by the supervisory authority and where the supervisory authority will not divulge the information received to third parties unless compelled to do so by its domestic law or courts;”;

by inserting, immediately after the word “particulars” in the ninth line of subsection (8), the words “, other than credit facilities granted,”; and

by deleting subsection (9) and substituting the following subsection :“(9) The Authority may provide information to a supervisory authority under subsection (8) if and only if the supervisory authority is prohibited by its domestic law from divulging the information received to third parties or gives such written undertaking, as to the confidentiality of the information provided, as the Authority may determine.”.