Regulation 1
Citation and commencement
This Order is the Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 and comes into operation on 20 November 2018.
/akn/sg/act/sub_leg/1970/BA-S761-2018
Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018
The full official text, structured for quick navigation. Copy any provision or jump straight to a section.
- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1970
- Sections
- 4
Quick answer
About this subsidiary legislation
Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation BA-S761-2018 1970, currently marked in force and first recorded in 1970.
Regulation 2
Exemption from section 15A(1) of Act
Subregulation 1
The Minister exempts any shareholder of HSBC Holdings plc from section 15A(1) of the Act, in relation to the shareholder becoming a substantial shareholder of HSBC Bank (Singapore) Limited by virtue of the shareholder’s interest or interests in one or more voting shares in HSBC Holdings plc.
Subregulation 2
The Minister exempts The Hongkong and Shanghai Banking Corporation Limited from section 15A(1) of the Act, in relation to it becoming a substantial shareholder of HSBC Bank (Singapore) Limited.
Subregulation 3
The Minister exempts HSBC Asia Holdings Limited from section 15A(1) of the Act, in relation to it becoming a substantial shareholder of HSBC Bank (Singapore) Limited.
Regulation 3
Exemption from section 15B(1) of Act
Subregulation 1
The Minister exempts any shareholder of HSBC Holdings plc from section 15B(1) of the Act, in relation to the shareholder becoming a 12% controller, a 20% controller or an indirect controller (as the case may be) of HSBC Bank (Singapore) Limited by virtue of the shareholder’s interest or interests in one or more voting shares in HSBC Holdings plc.
Subregulation 2
The Minister exempts The Hongkong and Shanghai Banking Corporation Limited from section 15B(1) of the Act, in relation to it becoming a 12% controller, a 20% controller or an indirect controller (as the case may be) of HSBC Bank (Singapore) Limited.
Subregulation 3
The Minister exempts HSBC Asia Holdings Limited from section 15B(1) of the Act, in relation to it becoming a 12% controller, a 20% controller or an indirect controller (as the case may be) of HSBC Bank (Singapore) Limited.
Regulation 4
Revocation
The Banking (Exemption from Sections 15A and 15B) Order 2016 (G.N. No. S 166/2016) is revoked.
Common questions
- What is Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018?
- Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation BA-S761-2018 1970, currently marked in force and first recorded in 1970.
- Is Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 still in force?
- Yes — Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 is currently in force.
- When did Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 take effect?
- Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 was first recorded in 1970.
- How many regulations does Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 have?
- Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 contains 4 regulations.
- Where can I read the official version of Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018?
- The official text of Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018 is published at sso.agc.gov.sg.