Monetary Authority of Singapore Act

(CHAPTER 186)

(Original Enactment: Act 42 of 1970)

REVISED EDITION 1999

(30th December 1999)

An Act to establish a corporation to be known as the Monetary Authority of Singapore, to provide for the exercise of control over and the resolution of financial institutions and their related entities by the Monetary Authority of Singapore and other authorities, and to establish a framework for the issue of securities by the Monetary Authority of Singapore and the regulation of primary dealers of such securities, and for matters incidental thereto and connected therewith.

[13/2007 wef 30/06/2007]

[Act 9 of 2013 wef 18/04/2013]

[26th December 1970: Parts I, II and VI ;

1st January 1971: Parts III and IV ;

8th October 1999: Part V ]

PART I

PRELIMINARY

Short title

1. This Act may be cited as the Monetary Authority of Singapore Act.

Interpretation

2. In this Act, unless the context otherwise requires —

“Authority” means the Monetary Authority of Singapore established under section 3;

“bank” means a bank licensed under the Banking Act (Cap. 19);

“board” means the board of directors of the Authority;

“corporation” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);

[Act 9 of 2013 wef 18/04/2013]

“director” means a director appointed under section 8(1) and the chairman and the deputy chairman of the board;

“financial instrument” has the same meaning as in section 2(1) of the Securities and Futures Act (Cap. 289);

[13/2007 wef 30/06/2007]

“managing director” means a director appointed under section 9(1);

[24/2003 wef 01/01/2004]

“money market operations” means any transaction undertaken by the Authority as the central bank to manage liquidity in the banking system;

[24/2003 wef 01/01/2004]

“officer”, in relation to the Authority, includes any person employed by the Authority in an executive capacity;

[24/2003 wef 01/01/2004]

[26/84]

[Act 9 of 2013 wef 18/04/2013]

“primary dealer” means a person appointed under section 145 as a primary dealer for securities issued by the Authority.

[Act 31 of 2017 wef 04/06/2018]

[Act 9 of 2013 wef 18/04/2013]

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