56. Definitions of this Part
Feedback & supportLast amended by an amending law of 2023. 3 amendments in all.
In this Part, except where the context otherwise requires —“bank” means a bank that holds a licence under section 7 or 79 of the Banking Act 1970;“finance company” means a finance company licensed under the Finance Companies Act 1967;“merchant bank” means 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;“specified contract” means a specified FX contract or a specified OTC derivatives contract;“specified foreign exchange contract” or “specified FX contract” means any of the following:
a foreign exchange OTC derivatives contract that is arranged by any bank or merchant bank;
a spot foreign exchange contract for the purposes of leveraged foreign exchange trading that is arranged by any bank or merchant bank.[Deleted by S 832/2020 wef 30/09/2020]
“bank” means a bank that holds a licence under section 7 or 79 of the Banking Act 1970;
“finance company” means a finance company licensed under the Finance Companies Act 1967;
“merchant bank” means 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;
“specified contract” means a specified FX contract or a specified OTC derivatives contract;
“specified foreign exchange contract” or “specified FX contract” means any of the following:
a foreign exchange OTC derivatives contract that is arranged by any bank or merchant bank;
a spot foreign exchange contract for the purposes of leveraged foreign exchange trading that is arranged by any bank or merchant bank.