Clause 63

by deleting item 8 of Part I and substituting the following item:First column Second column Third columnPurpose for which customer information may be disclosed Persons to whom information may be disclosed Conditions“8.Where the bank is a bank incorporated outside Singapore or a foreign-owned bank incorporated in Singapore, the disclosure is strictly necessary for compliance with a request made by its parent supervisory authority. The parent supervisory authority of the bank incorporated outside Singapore or the foreign-owned bank incorporated in Singapore, as the case may be. (a)No deposit information shall be disclosed to the parent supervisory authority.(b)The parent supervisory authority is prohibited by the laws applicable to it from disclosing the customer information obtained by it to any person unless compelled to do so by the laws or courts of the country or territory where it is established.”;

by deleting item 1 of Part II and substituting the following item:First column Second column Third columnPurpose for which customer information may be disclosed Persons to whom information may be disclosed Conditions“1.Disclosure is solely in connection with the performance of duties as an officer or a professional adviser of the bank. Any —

officer of the bank in Singapore; (b)officer designated in writing by the head office of the bank in Singapore or, in the case of a foreign-owned bank incorporated in Singapore, its parent bank; (c)lawyer, consultant or other professional adviser appointed or engaged by the bank in Singapore under a contract for service; (d)auditor appointed or engaged by the bank in Singapore, the head office of the bank in Singapore or, in the case of a foreign owned-bank incorporated in Singapore, its parent bank, under a contract for service. No disclosure shall be made to any auditor referred to in paragraph (d), other than an auditor appointed or engaged by the bank in Singapore, unless the auditor has given to the bank a written undertaking that he will not disclose any customer information obtained by him in the course of the performance of audit to any person except the head office of the bank in Singapore or, in the case of a foreign owned-bank incorporated in Singapore, its parent bank.”;

by deleting the word “or” at the end of paragraph (a)(iii) of item 2 of Part II;

by inserting, immediately after the words “incorporated in Singapore” in paragraph (b) of item 2 of Part II, the words “, not being a foreign-owned bank incorporated in Singapore”;

by deleting the full-stop at the end of paragraph (b)(ii) of item 2 of Part II and substituting the word “; or”, and by inserting immediately thereafter the following paragraph:“(c)a foreign-owned bank incorporated in Singapore —

the parent bank; or

any related corporation of the bank designated in writing by the parent bank.”; and

by inserting, immediately after item 4 of Part II, the following items:First column Second column Third columnPurpose for which customer information may be disclosed Persons to whom information may be disclosed Conditions“4A.Disclosure is solely in connection with the transfer or proposed transfer of the business of the bank to a company under Division 1 or 2 of Part VIIA, whether or not the transfer is subsequently carried out or completed. Any —

transferor or transferee, defined in section 55A or 55D; (b)person affected by the transfer; (c)professional adviser appointed by any person referred to in paragraph (a) or (b); or (d)independent assessor appointed by the Minister or the Authority under section 55B or by the Authority under 55E. 4B.Disclosure is solely in connection with the transfer or proposed transfer of the shares in the bank under Division 3 of Part VIIA, whether or not the transfer is subsequently carried out or completed. Any —

transferor or transferee, defined in section 55H; (b)professional adviser appointed by the transferor or transferee; or (c)independent assessor appointed by the Authority under section 55I. 4C.Disclosure is solely in connection with the restructuring or proposed restructuring of the share capital of the bank under Division 4 of Part VIIA, whether or not the restructuring is carried out or completed. Any —

shareholder of the bank; (b)subscriber defined in section 55K; (c)professional adviser appointed by the bank or any person referred to in paragraph (a) or (b); or

independent assessor appointed by the Authority under section 55L. ”.