Singapore legislation

Clause 9

Amendment of section 15

Section 15 of the principal Act is hereby amended —

(a)

by inserting immediately after subsection (1) thereof the following new subsection: —“(2) Nothing in this Act shall authorise the Commissioner to enquire specifically into the affairs of an individual depositor of a finance company and any information relating to the affairs of such individual depositor obtained by him in the course of an inspection or investigation made under this Act shall be secret between him and that finance company:Provided that nothing in this section shall be deemed to limit any powers conferred upon the High Court or a Judge by the Evidence (Bankers’ Books) Ordinance (Cap. 5) or to prohibit obedience to an order made under that Ordinance or any such law.”; and

(b)

by renumbering the existing subsection (2) thereof as subsection (3).

Read in full context — Finance Companies (Amendment) Bill →