Singapore legislation
Regulation 36
Regulation 36
Prescribed appointment for merchant bank incorporated in Singapore
Subregulation 1
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.
Subregulation 2
In this regulation, “head of treasury”, in relation to a merchant bank incorporated in Singapore, means any person, by whatever name described, who —
(a)
is in the direct employment of, or acting for or by arrangement with, the merchant bank; and
(b)
is principally responsible for the management and conduct of the treasury operations of the merchant bank.