Singapore legislation
Clause 6
Clause 6
Amendment of section 9
Section 9(1) of the Banking Act is amended —
(a)
by deleting the words “a bank shall not” and substituting the words “a company must not”;
(b)
by deleting the words “in the case of a bank incorporated in Singapore” in paragraph (a) and substituting the words “where the company intends to carry on banking business in Singapore as a bank incorporated in Singapore”; and
(c)
by deleting the words “in the case of a bank incorporated outside Singapore” in paragraph (b) and substituting the words “where the company intends to carry on banking business in Singapore through a branch or office located in Singapore,”.