Singapore legislation

Clause 45

of Banking (Amendment) Bill

Clause 45

Amendment of section 56

Section 56 of the Banking Act is amended by deleting the full‑stop at the end of the definition of “licensee” and substituting a semi‑colon, and by inserting immediately thereafter the following definition:“ “place of business”, in relation to a licensee, includes a head or main office, a branch, an agency, a mobile branch of the licensee, any office established and maintained for a limited period only, and any other place used by the licensee for the conduct of any business of the licensee.”.