Regulation 1
Citation and commencement
This Notification may be cited as the Banking (Exemption from Section 4A (1) and (2)) Notification 2006 and shall come into operation on 14th July 2006.
/akn/sg/act/sub_leg/1970/BA-S411-2006
Banking (Exemption from Section 4A (1) and (2)) Notification 2006
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1970
- Sections
- 2
Quick answer
About this subsidiary legislation
Banking (Exemption from Section 4A (1) and (2)) Notification 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation BA-S411-2006 1970, currently marked in force and first recorded in 1970.
Regulation 2
Exemption
Subregulation 1
The Authority hereby exempts —
(a)
ING Bank (Switzerland) Limited from section 4A(1) of the Act in respect of any deposit accepted in Singapore on its behalf by ING Asia Private Bank Limited from any accredited investor in Singapore, in connection with the provision of private banking services in Singapore by ING Asia Private Bank Limited on behalf of ING Bank (Switzerland) Limited; and
(b)
ING Asia Private Bank Limited from section 4A(2) of the Act in respect of —
(i)
any offer or invitation to make any deposit, or to enter or offer to enter into any agreement to make any deposit, with ING Bank (Switzerland) Limited; or
(ii)
any advertisement containing such offer or invitation,made or issued to any accredited investor in Singapore in connection with the provision of private banking services in Singapore by ING Asia Private Bank Limited on behalf of ING Bank (Switzerland) Limited.
Subregulation 2
The exemptions under sub-paragraph (1)(a) and (b) are subject to such conditions as may be specified in letters issued by the Authority from time to time to the exempted persons.
Subregulation 3
In this paragraph, “accredited investor” has the same meaning as in regulation 2 of the Banking Regulations (Rg 5).
Common questions
- What is Banking (Exemption from Section 4A (1) and (2)) Notification 2006?
- Banking (Exemption from Section 4A (1) and (2)) Notification 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation BA-S411-2006 1970, currently marked in force and first recorded in 1970.
- Is Banking (Exemption from Section 4A (1) and (2)) Notification 2006 still in force?
- Yes — Banking (Exemption from Section 4A (1) and (2)) Notification 2006 is currently in force.
- When did Banking (Exemption from Section 4A (1) and (2)) Notification 2006 take effect?
- Banking (Exemption from Section 4A (1) and (2)) Notification 2006 was first recorded in 1970.
- How many regulations does Banking (Exemption from Section 4A (1) and (2)) Notification 2006 have?
- Banking (Exemption from Section 4A (1) and (2)) Notification 2006 contains 2 regulations.
- Where can I read the official version of Banking (Exemption from Section 4A (1) and (2)) Notification 2006?
- The official text of Banking (Exemption from Section 4A (1) and (2)) Notification 2006 is published at sso.agc.gov.sg.