Clause 11

by deleting the words “revoke a licence issued under this Act” and substituting the words “revoke a bank licence”;

by deleting the words “the provisions” in paragraph (a)(vi) and substituting the words “or has contravened any provision”;

by deleting the word “or” at the end of paragraph (a)(vii);

by deleting the words “has contravened” in paragraph (a)(viii) and substituting the words “is contravening or has contravened”;

by inserting, immediately after sub‑paragraph (viii) of paragraph (a), the following sub‑paragraph:“(ix)is contravening or has contravened any provision of the Monetary Authority of Singapore Act (Cap. 186) or any direction issued by the Authority under that Act;”; and

by deleting the full-stop at the end of paragraph (b) and substituting a semi‑colon, and by inserting immediately thereafter the following paragraphs:“(c)where the bank holding the licence is a foreign‑owned bank incorporated in Singapore, if the parent supervisory authority of the bank has withdrawn the licence or authority to operate of the parent bank of the bank; or

if the Authority is satisfied that it is in the public interest to do so.”.