Clause 3

Where a notice has been given by the Registrar to a trade union under the provisions of subsection (2) of section 15, the Minister may, if he is satisfied that it is likely that the funds of the union may be misused, by notice in writing direct any bank in Singapore not to pay any money out of or not to honour cheques drawn on the account of such union for a specified period not exceeding three months.(2) Where an investigation is being conducted by a public authority regarding the improper use or misapplication of the funds of a trade union, the Minister may by notice in writing direct any bank in Singapore not to pay any money out of or not to honour cheques drawn on the account of such union for a specified period not exceeding three months.(3) A bank which complies with a notice of the Minister under subsection (1) or (2) shall be relieved of any liability to any other person in respect of the payment prohibited by such a notice.(4) Any bank which fails to comply with a notice of the Minister under subsection (1) or (2) shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding three thousand dollars or to imprisonment for a term not exceeding three years or to both such fine and imprisonment.(5) Where an offence under subsection (4) is proved to have been committed with the consent and connivance of, or to be attributable to any neglect on the part of, any director, secretary, manager, accountant, sub-accountant or other similar officer of a bank, or a person who was purporting to act in such capacity, he as well as the bank shall be guilty of that offence and shall be liable to be proceeded against and punished accordingly.(6) For the purposes of subsection (2), “public authority” means the Registrar, the Commissioner of Police, the Commissioner of Inland Revenue and the Director of the Corrupt Practices investigation Bureau.”.