Singapore legislation
Clause 2
Clause 2
Amendment of section 2
Section 2 of the Moneylenders Act 2008 is amended by inserting, immediately after the definition of “Authority”, the following definition:“ “bank” means —
(a)
a bank licensed under the Banking Act (Cap. 19); or
(b)
a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act (Cap. 186),and includes a finance company licensed under the Finance Companies Act (Cap. 108);”.