Singapore legislation
Clause 29
Clause 29
Amendment of section 64
Section 64 of the principal Act is amended by deleting subsection (4) and substituting the following subsection:“(4) The Authority may direct a clearing house to remove an officer from its office or employment under subsection (1) on any of the following grounds without giving the clearing house an opportunity to be heard:
(a)
the officer is an undischarged bankrupt, whether in Singapore or elsewhere;
(b)
the officer has been convicted, whether in Singapore or elsewhere, of an offence —
(i)
involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and
(ii)
punishable with imprisonment for a term of 3 months or more.”.