Singapore legislation

Clause 3

of Monetary Authority of Singapore (Amendment No. 2) Bill

Clause 3

Amendment of section 27A

Section 27A of the principal Act is amended —

(a)

by deleting “$100,000” in subsection (5) and substituting the words “$1 million”; and

(b)

by deleting the word “and” at the end of paragraph (k) of subsection (6), and by inserting immediately thereafter the following paragraph:“(ka)any holder of a stored value facility under the Payment Systems (Oversight) Act (Cap. 222A); and”.

Read in full context — Monetary Authority of Singapore (Amendment No. 2) Bill →