Division 1 General provisions
Division 2 Recovery and resolution planning
Division 1 General provisions
Division 2 Compulsory transfer of business of pertinent financial institution
Division 2A Reverse transfer of business and onward transfer of business
Division 3 Compulsory transfer of shares of pertinent financial institution
Division 4 Compulsory restructuring of share capital of pertinent financial institution
Division 4A Bail-in powers
Division 4B Termination rights
Division 5 Assistance to foreign resolution authorities and domestic authorities
Division 5A Recognition of foreign resolutions
Division 5B Resolution funding
Division 5C Compensation
Division 6 Miscellaneous
Division 1 General provisions
Division 2 Assistance to AML/CFT authorities
Division 3 Assistance to domestic authorities
Division 4 Additional provisions for Divisions 2 and 3
Division 5 Inspection by AML/CFT authority
| Division 5A — Recognition of foreign resolutions |
| General provisions |
| Determination over foreign resolution |
94.—(1) This section applies where a foreign resolution authority of a foreign country or territory makes a request to the Authority to recognise a foreign resolution in relation to a foreign financial institution by the foreign resolution authority.
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| Order to give effect to foreign resolution |
95.—(1) If the Minister approves a determination that a foreign resolution should be recognised in whole or in part, the Minister must, as soon as practicable, by order in the Gazette, declare that the foreign resolution is to be recognised.
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| Directions |
| 96. The Authority may, from time to time, issue such directions to any person who is approved, authorised, designated, recognised, registered, licensed or otherwise regulated by the Authority under this Act or any of the written laws set out in the Schedule, as the Authority considers necessary for the purposes of giving full effect to the order mentioned in section 95. [Act 31 of 2017 wef 29/10/2018] |
| Offence |
97.—(1) A person that refuses or fails to comply with a provision of the order under section 95 that applies to the person, or a direction issued to the person under section 96, shall be guilty of an offence and shall be liable on conviction —
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