Clause 3

by deleting sub-paragraphs (ii) and (iii) of section 15B(4)(c) and substituting the following sub‑paragraph:“(ii)A is a body corporate that is, or a majority of the directors of which are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of B;”;

by deleting sub-paragraphs (v) and (vi) of section 15B(4)(c) and substituting the following sub‑paragraph:“(v)A is a subsidiary of B;”;

by deleting the word “corporation” in section 15B(4)(c)(vii) and substituting the words “body corporate”; (d)by deleting the words “to (vi)” in section 15B(4)(c)(vii) and substituting the words “, (iv) and (v)”;

by inserting the word “or” at the end of section 15B(4)(c)(vii);

by deleting sub-paragraph (viii) of section 15B(4)(c);

by deleting sub-paragraph (i) of section 26(2)(a) and substituting the following sub-paragraph:“(i)in the case of —

a bank incorporated in Singapore, a copy of its latest audited financial statements as may be required to be laid at its annual general meeting under section 201 of the Companies Act (Cap. 50); or

a bank incorporated outside Singapore, a copy of its latest audited annual balance-sheet and profit and loss account together with any notes thereon;”;

by deleting the words “subsection (2)(a)(i)” in section 26(3) and substituting the words “subsection (2)(a)(i)(B)”;

by deleting paragraph (b) of section 58(4) and substituting the following paragraph:“(b)to —

in the case of a bank incorporated in Singapore, make a report in respect of its latest financial statements or, where the bank is a parent company for which consolidated financial statements are prepared, consolidated financial statements, in accordance with section 207 of the Companies Act; or

in the case of a bank incorporated outside Singapore, make a report on its latest annual balance‑sheet and profit and loss account together with any notes thereon showing the assets and liabilities and profit or loss arising out of the bank’s operations in Singapore which complies with section 207 of the Companies Act.”; (j)by inserting, immediately after the words “profit and loss account” in section 58(7), the words “, the financial statements or the consolidated financial statements, as the case may be,”; and

by inserting, immediately after subsection (8) of section 58, the following subsection:“(9) In this section, “consolidated financial statements” and “financial statements” have the same meanings as in section 209A of the Companies Act.”.