Banking Act - Singapore Statutes Online

Information to be furnished by banks

26.—(1) Every bank shall furnish to the Authority at such time and in such manner as the Authority may prescribe all such information as the Authority may reasonably require for the proper discharge of its functions.

(2) Every bank shall send to the Authority —

(a)	not later than 15 days after the last day of each month a statement in the form set out in the First Schedule showing the assets and liabilities of its banking offices and branches in Singapore at the close of business on the last business day of the preceding month;
(b)	not later than one month after the last day of each quarter of a calendar year, a statement in the form set out in the Second Schedule giving an analysis of loans and advances of its banking offices and branches in Singapore as at 31st March, 30th June, 30th September and 31st December, respectively; and
(c)	not later than 6 months after the close of its financial year a statement in the form set out in the Third Schedule showing the income and expenditure in respect of its banking business in Singapore. [28/93]

(3) The Authority may vary or amend the forms set out in the First, Second and Third Schedules.

(4) The Authority may require any statement submitted to it pursuant to subsections (1) and (2) to be accompanied by a certificate —

(a)	of the auditor appointed by the bank pursuant to section 58(1); or
(b)	of any other auditor appointed by the Authority pursuant to section 58(3),

as to whether in the opinion of the auditor, the statement or information is correct.

(5) Any information received from a bank under this section shall be regarded as secret between that bank and the Authority.

[28/93]

(6) Nothing in this section shall prevent the Authority from preparing and publishing consolidated statements aggregating such information as may be furnished under this section.

[28/93]

(7) Any bank which fails or neglects to furnish any information required by the Authority under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a continuing offence, to a further fine of $2,000 for every day during which the offence continues after conviction.

[2/84]

[28/93]

Search within Legislation