Singapore legislation
Clause 9
Clause 9
Repeal and re-enactment of section 26
Section 26 of the principal Act is repealed and the following section substituted therefor:“Special loans to banks, financial institutions, etc.
26. The Authority may, if it thinks such action is necessary to safeguard —
(a)
the stability of the financial system; or
(b)
public confidence in the financial system,make any loan or advance to any bank carrying on business under the Banking Act (Cap. 19) or to such financial institutions or class of financial institutions or such other persons as the Authority may from time to time determine, on such terms and conditions as the Authority thinks fit.”.