Singapore legislation
Regulation 2
Regulation 2
Definitions
In this Notification —“bank in Singapore” means —
a bank that holds a licence granted under section 7 or 79 of the Banking Act 1970; or
a merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act 1970;“bank outside Singapore” means a financial institution that is licensed or approved (or exempt from licensing or approval) to carry on banking business outside Singapore, by a financial supervisory authority of the jurisdiction in which it carries on its banking business;“qualifying payment” means any income referred to in section 12(6) of the Act.
Definition
“bank in Singapore” means —
a bank that holds a licence granted under section 7 or 79 of the Banking Act 1970; or
a merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act 1970;
Definition
“bank outside Singapore” means a financial institution that is licensed or approved (or exempt from licensing or approval) to carry on banking business outside Singapore, by a financial supervisory authority of the jurisdiction in which it carries on its banking business;
Definition
“qualifying payment” means any income referred to in section 12(6) of the Act.