In forceUpdated to 30 Jun 2025

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Financial Services and Markets Act 2022 · Updated to 30 Jun 2025 · Part 8 · Resolution of Financial Institutions

81. Exercise of powers under this Division

(1)

In exercising any power under this Division, the Authority must have regard to the desirability of giving each pre‑resolution creditor or pre‑resolution shareholder of a Division 6 FI the priority and treatment the pre‑resolution creditor or pre‑resolution shareholder would have enjoyed had the Division 6 FI been wound up.

(2)

In determining whether to exercise its powers in accordance with the priority and treatment a pre‑resolution creditor or pre‑resolution shareholder of a Division 6 FI would have enjoyed had the Division 6 FI been wound up, the Authority may consider the following:

(a)

any widespread adverse impact that the Division 6 FI’s failure would have on the financial system in Singapore or the economy of Singapore, or both;

(b)

the need to maximise value for the benefit of all creditors of the Division 6 FI as a whole;

(c)

the public interest;

(d)

any other matter that the Authority considers relevant.

(3)

Any exercise of a power under this Division does not prevent the exercise of any other power of the Authority or the Minister under this Act or the relevant Act applicable to the Division 6 FI or resulting FI.

Report

Read on from s 82

Part 9