Financial Holding Companies Act 2013 · s 78

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s 78Consequential amendments to Banking Act

The Banking Act (Cap. 19) is amended —

(a)

by deleting the definition of “financial holding company” in section 2(1) and substituting the following definition:“ “financial holding company” means a company designated by the Authority under section 4 of the Financial Holding Companies Act 2013;”;

(b)

by deleting the definition of “designated financial institution” in section 15(2);

(c)

by deleting the words “designated financial institution” wherever they appear in sections 15A, 15B, 15C, 15E, 16, 17 and 18 and substituting in each case the words “bank incorporated in Singapore”; and

(d)

by deleting the words “designated financial institutions” in the section headings of sections 15A, 15B and 15E and substituting in each case the words “banks incorporated in Singapore”.