Clause 1
Short title and commencement
This Act may be cited as the Monetary Authority of Singapore (Amendment) Act 1998 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.
/akn/sg/act/bill/1998/19
Monetary Authority of Singapore (Amendment) Bill
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- Type
- Bill
- Status
- In force
- Enacted
- 1998
- Sections
- 5
Quick answer
About this bill
Monetary Authority of Singapore (Amendment) Bill is Singapore Bill, cited as Bill 19 1998, currently marked in force and first recorded in 1998.
Clause 2
Amendment of section 4
Section 4 of the Monetary Authority of Singapore Act (referred to in this Act as the principal Act) is amended —
(a)
by deleting the word “and” at the end of paragraph (b);
(b)
by inserting, immediately after paragraph (b), the following paragraph:“(c)to foster a sound and progressive financial services sector; and”; and
(c)
by re-lettering the existing paragraph (c) as paragraph (d).
Clause 3
Amendment of section 7
Section 7(3) of the principal Act is amended by deleting the word “six” in paragraph (b) and substituting the words “not less than 4 and not more than 9”.
Clause 4
Amendment of section 10
Section 10(1) of the principal Act is amended —
(a)
by deleting the words “bank licensed under the Banking Act” and substituting the words “financial institution licensed or approved by the Authority under any written law”; and
(b)
by deleting the marginal reference “Cap. 19.”.
Clause 5
Amendment of section 12
Section 12(2) of the principal Act is amended by deleting the word “directors,” in the second line and substituting the words “directors or a simple majority of the directors, whichever is the larger,”.
Common questions
- What is Monetary Authority of Singapore (Amendment) Bill?
- Monetary Authority of Singapore (Amendment) Bill is Singapore Bill, cited as Bill 19 1998, currently marked in force and first recorded in 1998.
- Is Monetary Authority of Singapore (Amendment) Bill still in force?
- Yes — Monetary Authority of Singapore (Amendment) Bill is currently in force.
- When did Monetary Authority of Singapore (Amendment) Bill take effect?
- Monetary Authority of Singapore (Amendment) Bill was first recorded in 1998.
- How many clauses does Monetary Authority of Singapore (Amendment) Bill have?
- Monetary Authority of Singapore (Amendment) Bill contains 5 clauses.
- Where can I read the official version of Monetary Authority of Singapore (Amendment) Bill?
- The official text of Monetary Authority of Singapore (Amendment) Bill is published at sso.agc.gov.sg.