7. Pending applications for registration

Where an application made under the repealed Act for the registration of a trust company was pending approval immediately before 1st February 2006, that application —

shall be deemed to be an application for the grant of a trust business licence under the Act; and

shall be subject to the provisions of the Act, including the requirement to pay the appropriate application fee as prescribed in the Trust Companies Regulations (Rg 4).

The applicant shall furnish to the Monetary Authority of Singapore such additional information as that Authority may, by notice in writing, require.

Where an application made under the repealed Act for the registration of a trust company was pending approval immediately before 1st February 2006, that application —

shall be deemed to be an application for the grant of a trust business licence under the Act; and

shall be subject to the provisions of the Act, including the requirement to pay the appropriate application fee as prescribed in the Trust Companies Regulations (Rg 4).

The applicant shall furnish to the Monetary Authority of Singapore such additional information as that Authority may, by notice in writing, require.