36. Prescribed appointment for merchant bank incorporated in Singapore

For the purpose of section 53A(1)(d) of the Act as applied by section 55ZJ(1) of the Act, a merchant bank incorporated in Singapore must obtain the prior approval of the Authority for the appointment of its head of treasury.

In this regulation, “head of treasury”, in relation to a merchant bank incorporated in Singapore, means any person, by whatever name described, who —

is in the direct employment of, or acting for or by arrangement with, the merchant bank; and

is principally responsible for the management and conduct of the treasury operations of the merchant bank.

For the purpose of section 53A(1)(d) of the Act as applied by section 55ZJ(1) of the Act, a merchant bank incorporated in Singapore must obtain the prior approval of the Authority for the appointment of its head of treasury.

In this regulation, “head of treasury”, in relation to a merchant bank incorporated in Singapore, means any person, by whatever name described, who —

is in the direct employment of, or acting for or by arrangement with, the merchant bank; and

is principally responsible for the management and conduct of the treasury operations of the merchant bank.