Singapore legislation
Clause 8
Clause 8
Amendment of section 23
Section 23 of the principal Act is amended by inserting, immediately after subsection (7), the following subsection:“(7A) For the purposes of Part IVB, the Authority may (in addition to its other powers) —
(a)
grant a loan to a trustee of a resolution fund within the meaning of Division 5B of that Part; and
(b)
do all such things as are necessary or expedient to be done for the orderly resolution of a financial institution.”.