Singapore legislation
Clause 4
Clause 4
Amendment of section 6
Section 6 of the Currency Act is amended —
(a)
by deleting paragraphs (b) and (c) of subsection (1) and substituting the following paragraphs:“(b)the Deputy Chairman who shall be appointed by the President; and
(c)
4 other members possessing recognised banking, financial or business experience who shall be appointed by the President.”; and
(b)
by deleting subsection (2) and substituting the following subsection:“(2) Subject to subsection (3), every member of the Board shall be appointed for a specific term not exceeding 3 years and shall vacate his office without prejudice to his eligibility for re-appointment at the expiration of that term.”.