Clause 31

by deleting sub-paragraph (i) of subsection (1)(a) and substituting the following sub-paragraph:“(i)a bank licensed under the Banking Act (Cap. 19), or a merchant bank approved by the Monetary Authority of Singapore, which is a financial sector incentive company;”;

by deleting the words “an Asian Currency Unit of a financial institution or a fund manager approved under section 43A” in subsection (1)(a)(v) and substituting the words “a financial sector incentive company”; and

by deleting subsection (4) and substituting the following subsection:“(4) In this section —“financial sector incentive company” has the same meaning as in section 43Q;“futures member of the Singapore Exchange” means any company which holds membership of any class or description of a futures market, or of a clearing house for the futures market, maintained by the Singapore Exchange Limited or any of its subsidiaries.”.