Singapore legislation

Clause 29

of Monetary Authority of Singapore (Amendment) Bill

Clause 29

Amendment of section 122

Section 122 of the principal Act is amended by deleting paragraph (a) and substituting the following paragraph:“(a)any sale, transfer, assignment or other disposition of any property or business of a pertinent financial institution pursuant to section 58 or 64 must not be reversed, repaid or set aside, except where a certificate has been issued under section 62 to reverse such sale, transfer, assignment or other disposition; and”.

Clause 29 — Monetary Authority of Singapore (Amendment) Bill