Clause 3

by inserting, immediately after the definition of “licence”, the following definition:“ “licensee” means the holder of a money-changer’s licence or a remittance licence, as the case may be;”;

by inserting, immediately after the definitions of “partner” and “manager”, the following definition:“ “place of business” means each place or location in Singapore used by a licensee for carrying on money-changing business or remittance business, whether within a single building, at a single business address, or otherwise;”;

by inserting, immediately after the words “another country” in the definition of “remittance business”, the words “or a territory outside Singapore”; and

by deleting the full-stop at the end of the definition of “remittance licence” and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “substantial shareholder” has the same meaning as in section 81 of the Companies Act (Cap. 50).”.