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laws.sgby aturio
In forceAs enacted
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Part 2 · Governance of Regulated Institutions

17. Executive officers

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A regulated institution must not appoint any person as its executive officer while that person is concurrently —

(a)

employed by a substantial shareholder of the regulated institution, other than a substantial shareholder that is also —

(i)

a regulated institution of which the firstmentioned regulated institution is a subsidiary; or

(ii)

an approved holding company of the firstmentioned regulated institution;

(b)

an executive officer of a subsidiary or an associated corporation of the regulated institution;

(c)

in the case where the regulated institution is a subsidiary of another regulated institution (X), employed by a substantial shareholder of X, or a subsidiary or an associated corporation of the substantial shareholder of X; or

(d)

where the regulated institution is a subsidiary of an approved holding company (Y), employed by a substantial shareholder of Y, or a subsidiary or an associated corporation of the substantial shareholder of Y.

Report

Read on from reg 18

Part 3

Revocation and Saving and Transitional Provision

Read on from Part 3