Singapore legislation

Clause 133

Immunity for officer of specified financial institution or significant associated entity

(1)

No civil or criminal liability is incurred by an officer of a specified financial institution, or of a significant associated entity referred to in section 130, for anything done (including any statement made) or omitted to be done with reasonable care and in good faith in complying with any provision of this Part or any direction given, notice issued or requirement imposed by the Minister or the Authority under this Part.

(2)

In this section, “officer”, in relation to a specified financial institution or a significant associated entity referred to in section 130, includes —

(a)

a director, a secretary or an executive officer of the specified financial institution or significant associated entity, as the case may be;

(b)

a receiver or manager of any part of the undertaking of the specified financial institution or significant associated entity (as the case may be) appointed under a power contained in any instrument; and

(c)

a liquidator of the specified financial institution or significant associated entity (as the case may be) appointed in a voluntary winding up.

Read in full context — Financial Services and Markets Bill →