Singapore legislation
Regulation 2
of Banking (Exemption from Sections 15A and 15B) (No. 2) Order 2018
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.