Singapore legislation
Clause 4
Clause 4
Amendment of section 2
Section 2 of the amended principal Act is amended —
(a)
by inserting, immediately after the definition of “financial institution”, the following definition:“ “foreign reserve asset” has the meaning given by section 23(11) of the Monetary Authority of Singapore Act 1970;”;
(b)
by inserting, immediately after the words “any Treasury Bill” in the definition of “Government securities”, the words “and any RMGS”; and
(c)
by inserting, immediately after the definition of “repealed 1923 Act”, the following definition:“ “RMGS” means an instrument called a reserves management Government security that is issued under Part 3A;”.