Laws
Financial Holding Companies Act 2013
Part X
s 79

In forceUpdated to 9 Mar 2025Current version · Updated to 9 Mar 2025See versions on Singapore Statutes Online(opens the publisher’s site)

Contents

Financial Holding Companies Act 2013

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IPreliminary

1Short title and commencement
2Interpretation

IIInformation Gathering Powers Over Financial Holding Companies

3Provision of information to Authority

IIIDesignation of Financial Holding Companies

4Power of Authority to designate financial holding companies
5Withdrawal of designation of financial holding company
6Prohibition on holding out as designated financial holding company
7Use of financial holding company name, etc.
8Activities of designated financial holding company
9Annual levy
10Amendment of designated financial holding company’s constitution

IVChanges in Shareholdings and Control of Designated Financial Holding Company

11Application and interpretation of this Part
12Mergers involving designated financial holding company with bank subsidiary
13Control of substantial shareholdings of designated financial holding company with bank subsidiary
14Control of shareholdings and voting power of designated financial holding company with bank subsidiary
15Approval of applications in case of designated financial holding company with bank subsidiary
16Power to exempt and make further transitional provisions
17Objection to existing control of designated financial holding company with bank subsidiary
18Power to make directions in relation to designated financial holding company with bank subsidiary
19Mergers involving designated financial holding company without bank subsidiary
20Control of substantial shareholdings of designated financial holding company without bank subsidiary
21Control of shareholdings and voting power of designated financial holding company without bank subsidiary
22Approval of applications in case of designated financial holding company without bank subsidiary
23Objection to existing control of designated financial holding company without bank subsidiary
24Power to make directions in relation to designated financial holding company without bank subsidiary
25Appeals
26Offences, penalties and defences under this Part
27Power of Authority to obtain information

VExposures and Limits on Investments

28Exposures
29Disclosure of interests by directors
30Limit on equity investments
31Investments in companies
32Immovable property
33Power of Authority to secure compliance with provisions of this Part

VIMinimum Asset and Capital Requirement

34Minimum liquid assets
35Minimum capital requirements
36Capital adequacy requirements
37Leverage ratio requirement
38Power of Authority to secure compliance with any provision in this Part

VIIAudit, Inspections and Investigations

39Annual account and audit
40Inspection of designated financial holding companies and other companies within FHC group
41Special investigation of designated financial holding companies
42Provisions supplementary to sections 40 and 41
43Inspection in Singapore by foreign supervisory authority
44Confidentiality of inspection and investigation reports

VIIIPowers of Control Over Designated Financial Holding Companies

45Interpretation of this Part
46Information of insolvency, etc.
47Action by Authority if designated financial holding company is unable to meet obligations, etc.
48Effect of assumption of control under section 47
49Duration of control
50Responsibilities of officers, member, etc., of designated financial holding company
51Remuneration and expenses of Authority and others in certain cases
52Winding up where designated financial holding company is co‑operative society

IXAssistance to Foreign Regulatory Authorities

53Interpretation of this Part
53AApplication of this Part
54Conditions for provision of assistance
55Other factors to consider for provision of assistance
56Assistance that may be rendered
57Offences under this Part
58Immunities

XMiscellaneous

59Regulations
60Notices to designated financial holding company
61Appointment of assistants
62Disqualification of directors and executive officers
63Appointment and removal of chief executive and other persons
64Offences by directors and executive officers of designated financial holding companies and false or misleading information, etc.
65Offences by directors, employees and agents
66Composition of offences
67General penalty
68Jurisdiction of court
69Consent of Public Prosecutor
70Recovery of fees, expenses, etc.
71Operation of this Act not to affect Companies Act
72Service of documents, etc.
73Electronic service
74General powers of exemption
75Opportunity to be heard
76Amendment of Schedule
77Transitional provision
78Consequential amendments to Banking Act
79Consequential amendment to Monetary Authority of Singapore Act

Schedules

THE SCHEDULE Sections 28(6), 29(8), 34(11) and 76(1) DEFINITIONS OF TERMS IN SECTIONS 28(6), 29(8) AND 34(11) 1. For the purposes of sectio...

Financial Holding Companies Act 2013 · Updated to 9 Mar 2025 · Part X · Miscellaneous

79. Consequential amendment to Monetary Authority of Singapore Act

No plain-English summary for s 79 yet. See the rest of this law

Official textFrom Singapore Statutes Online, unchanged

The Schedule to the Monetary Authority of Singapore Act (Cap. 186) is amended by inserting, immediately after item 12, the following item:“12A. Financial Holding Companies Act 2013”.

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Financial Holding Companies Act 2013 · s 79

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Where this comes from

Singapore Statutes Online · Financial Holding Companies Act 2013, Updated to 9 Mar 2025. Reader record updated on 7 Oct 2026.

Singapore legislation is Government copyright, used with the permission of the Attorney-General’s Chambers. Check Singapore Statutes Online for the latest version.

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