Singapore legislation
Regulation 27
of Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
Regulation 27
Definition of “Division 6 FI”
Amended byS 1065/2024 wef 31/12/2024S 1065/2024 wef 31/12/2024S 1065/2024 wef 31/12/2024
For the purposes of the definition of “Division 6 FI” in section 80(1) of the Act, each of the following persons is a Division 6 FI:
(a)
a bank that is incorporated in Singapore;
(b)
a designated financial holding company which has at least one subsidiary that is a bank incorporated in Singapore;
(c)
a licensed insurer that is incorporated in Singapore;
(d)
a designated financial holding company which has at least one subsidiary that is a licensed insurer incorporated, formed or established in Singapore.