Section 79
Directions for disposal
of Monetary Authority of Singapore Act 1970
ActIn forceProvision 98 of 199
Section 79
Amended by31/201731/2017
(1)
If the Minister is satisfied that any person has failed to comply with a condition imposed on the person in section 78(2), or if the Minister has served a notice on the person in section 78(5), the Minister may, by written notice —
(a)
direct the transfer or disposal of all or any of the shares in the Division 4A FI or resulting FI held by the person within such time and in such manner as the Minister considers appropriate;
(b)
restrict the transfer or disposal of those shares; or
(c)
make such other direction as the Minister considers appropriate.
Amended by31/2017
(2)
Any person to whom a notice is given under subsection (1) must comply with each direction specified in the notice.
Amended by31/2017