Clause 37

by deleting the words “, accounts and documents” in subsections (1)(a) and (2);

by inserting, immediately after subsection (3), the following subsection:“(3A) The remuneration and expenses of any auditor appointed under subsection (3) shall be paid by the bank.”;

by inserting, immediately after the words “a bank incorporated outside Singapore” in subsection (4), the words “or a foreign-owned bank incorporated in Singapore”; and

by inserting, immediately after subsection (5), the following subsection:“(6) For the purposes of this section, a reference to a parent bank in the definition of “foreign-owned bank incorporated in Singapore” in section 2(1) is a reference to a bank incorporated outside Singapore of which the foreign-owned bank is a subsidiary.”.