Singapore legislation
Clause 12
Clause 12
Amendment of section 25
Section 25 of the Banking Act is amended —
by inserting, immediately after subsection (1), the following subsection:“(1A) The Authority may, by regulations made under section 78(1), require a bank or class of banks to make available, within a reasonable time, to any person upon the person’s request —
copies of the statements mentioned in subsection (1)(a); and
a document containing —
the full and correct names of all persons who are directors for the time being of the bank;
the names of all subsidiary companies for the time being of the bank; and
any additional information that the bank is required to publish under subsection (4).”;
by deleting the words “newspaper or newspapers” in subsection (2) and substituting the word “manner”;
by deleting the words “relating to the accounts of that bank for any financial year” in subsection (4); and
by deleting the word “balance-sheet” in the section heading and substituting the word “accounts”.