Singapore legislation

Schedule 1

of Banking (Merchant Banks) Regulations 2021

Schedule 1

Information for quarterly reports to be submitted by Merchant Bank in Singapore

FIRST SCHEDULERegulations 15(5) and 18(4)Information for quarterly reports to be submitted by Merchant Bank in Singapore1.—

(1)

The quarterly reports to be submitted by a merchant bank in Singapore to the Authority must contain the following information in relation to that quarter:

(a)

balance-sheet asset value, revenue numbers, and exposures of each of the following businesses:

(i)

each business prescribed in regulation 14(1) carried on by the merchant bank;

(ii)

each business prescribed in regulation 15(1) carried on by the merchant bank;

(iii)

each business carried on by any major stake entity of the merchant bank acquired or held by the merchant bank in accordance with regulation 18;

(iv)

each business prescribed in regulation 14(1) or 15(1) carried on by any major stake entity of the merchant bank, where —

(A)

the merchant bank has obtained the approval of the Authority under section 32 of the Act as applied by section 55ZF(2) of the Act to acquire or hold a major stake in the entity; and

(B)

the approval granted by the Authority mentioned in sub‑paragraph (A) is subject to conditions that include the merchant bank having to treat the balance‑sheet asset value or exposures (whichever is higher) of the business as part of its aggregate non‑financial business size;

(v)

each business for which the Authority has granted approval to the merchant bank under section 55V(1)(e) of the Act and the approval is subject to conditions that include the merchant bank having to treat the balance‑sheet asset value or exposures (whichever is higher) of the business as part of its aggregate non‑financial business size;

(vi)

each business carried on by any major stake entity of the merchant bank, other than a business mentioned in section 55V(1)(a), (b), (c) or (d) of the Act, where —

(A)

the merchant bank has obtained the approval of the Authority under section 32 of the Act as applied by section 55ZF(2) of the Act to acquire or hold a major stake in the entity; and

(B)

(b)

the aggregate non‑financial business size, as defined in regulation 15(7), of the merchant bank;

(c)

the merchant bank’s utilisation of the regulatory limits prescribed in regulation 15(4).(2) In this Schedule, “major stake entity” has the meaning given by regulation 5.

Read in full context — Banking (Merchant Banks) Regulations 2021 →