Clause 13

Section 18 of the Banking Act is amended by inserting, immediately after subsection (4), the following subsection:“(5) Where a person claims, before providing any information to a designated financial institution under subsection (1) or to the Authority under subsection (2), that the information might tend to incriminate the person, the information is not admissible in evidence against the person in criminal proceedings, other than proceedings for an offence under section 17 or this section.”.

Section 18(5) of the Banking Act, as amended by subsection (1), is amended by deleting the words “designated financial institution” and substituting the words “bank incorporated in Singapore”.