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 and to provide for the transfer to the corporation of certain functions and assets of the Governmentand for matters incidental thereto and connected therewith.

[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;

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

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

[24/2003 wef 01/01/2004]

[26/84]

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

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

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