Clause 110
Amendment of section 12
of Financial Institutions (Miscellaneous Amendments) Bill
BillNot in forceProvision 109 of 111
Clause 110
In the Monetary Authority of Singapore Act 1970, in section 12 —
(a)
in subsection (1), replace “not less frequently than once in 3 months” with “at least one meeting must be summoned in each quarter of a calendar year”; and
(b)
after subsection (3), insert —“(4) In subsection (1), each of the following is a quarter of a calendar year:
(a)
January, February and March of the same calendar year;
(b)
April, May and June of the same calendar year;
(c)
July, August and September of the same calendar year;
(d)
October, November and December of the same calendar year.”.