Clause 26

by inserting, immediately after the words “FRS 109” in the following provisions, the words “or SFRS(I) 9 (as the case may be)”:Subsections (1), (2), (3)(g) and (m), (5)(c), (7)(a), (10)(a), (13)(c)(i) and (ii) and (15) (paragraph (b) of the definition of “qualifying person”);

by deleting the words “(subject to the regulations made under subsection (13)(a))” in subsection (3)(h);

by deleting paragraph (a) of subsection (13);

by inserting, immediately after the words “FRS 109” in paragraph (a) of the definition of “qualifying person” in subsection (15) and in the section heading, the words “or SFRS(I) 9”;

by deleting the full‑stop at the end of the definition of “qualifying person” in subsection (15) and substituting a semi‑colon, and by inserting immediately thereafter the following definition:“ “SFRS(I) 9” means the financial reporting standard known as Singapore Financial Reporting Standard (International) 9 (Financial Instruments) that is made, and amended from time to time, under Part III of the Accounting Standards Act.”; and

by deleting subsection (16) and substituting the following subsection:“(16) Any term used in this section and not defined in this section but defined in FRS 109 or SFRS(I) 9, has the same meaning as in FRS 109 or SFRS(I) 9, as the case may be.”.