Clause 14

by deleting subsection (1) and substituting the following subsection:“(1) The Authority may by written notice to any bank in Singapore, or any class of banks in Singapore, impose requirements that are necessary or expedient for the purposes of —

identifying any person or class of persons, where exposure of the bank, or a bank within the class of banks, to the person or class of persons may result in concentration risk to the bank; or

limiting the exposure of the bank, or a bank within the class of banks, to any person or class of persons, where the exposure may result in concentration risk to the bank.”;

by deleting paragraph (c) of subsection (2) and substituting the following paragraph:“(c)specify the manner in which and the process by which —

any exposure is to be measured or aggregated; and

a person or class of persons mentioned in subsection (1)(a) or (b) is to be identified;”;

by deleting the word “and” at the end of subsection (2)(d);

by deleting the full-stop at the end of paragraph (e) of subsection (2) and substituting a semi‑colon, and by inserting immediately thereafter the following paragraphs:“(f)require the bank in Singapore or a bank within the class of banks in Singapore to report its exposures to the Authority; and

specify the manner in which and the times at which the bank in Singapore or a bank within the class of banks in Singapore must report its exposures to the Authority.”;

by deleting subsection (7) and substituting the following subsection:“(7) In this section, “exposure” has the meaning given to it in the Fifth Schedule.”; and

by inserting, immediately after the word “facilities” in the section heading, the words “resulting in concentration risk”.