Regulation 38
Maximum term of chairman of merchant bank incorporated in Singapore
of Banking (Merchant Banks) Regulations 2021
Subsidiary LegislationIn forceProvision 38 of 41
Regulation 38
For the purpose of section 53A(5)(b) of the Act as applied by section 55ZJ(1) of the Act, the maximum term for which the chairman of the board of directors of a merchant bank incorporated in Singapore may hold the office or appointment is 3 years.