Singapore legislation
Clause 32
Clause 32
Amendment of section 54A
Section 54A of the Banking Act is amended —
(a)
by inserting, immediately after the word “banks” in the 3rd line of subsection (1), the words “in Singapore”;
(b)
by deleting the words “chief dealers” in subsection (2)(h) and substituting the words “other principal officers”;
(c)
by inserting, immediately after the word “bank” in subsection (3), the words “in Singapore”; and
(d)
by inserting, immediately after subsection (3), the following subsection:“(4) For the avoidance of doubt, any notice in writing issued under this Act shall be deemed not to be subsidiary legislation.”.