Singapore legislation
Clause 20
Clause 20
Amendment of section 20
Section 20 of the Banking Act is amended —
(a)
by deleting the words “taking action under section 49(2)” in subsection (1)(b) and substituting the words “the Authority exercising any power under section 49(2) or the Minister exercising any power under Division 2, 3 or 4 of Part VIIA in relation to the bank”; and
(b)
by deleting subsection (7) and substituting the following subsection:“(7) The making of an appeal by a bank under this section shall in no way affect the exercise of any power by the Authority under section 49, 50, 51, 52 or 53, or the exercise of any power by the Minister under Division 2, 3 or 4 of Part VIIA, in relation to the bank.”.