Post Office Savings Bank of Singapore Bill

Bill No. 5/1971

Read the first time on 30th July 1971.

An Act to establish a corporation to be known as the Post Office Savings Bank of Singapore and to provide for the transfer to, and for the vesting in, the corporation of the functions, assets and liabilities of the Post Office Savings Bank established under the Post Office Savings Bank Act (Chapter 198 of the 1970 Revised Edition) and to repeal the said Act.

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

PART I

PRELIMINARY

Short title and commencement

1. This Act may be cited as the Post Office Savings Bank of Singapore Act, 1971, and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Interpretation

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

“Bank” means the Post Office Savings Bank of Singapore established under section 3 of this Act;

“Board” means the Board of Directors referred to in section 7 of this Act;

“Chairman” means the Chairman appointed by the Minister under section 8 of this Act;

“director” means a director appointed under subsection (1) of section 7 of this Act and includes the Chairman;

“General Manager” means the General Manager appointed under section 17 of this Act and includes any person appointed to act as General Manager;

“guardian” means the father of a minor, or if the father is dead, the mother, or if both parents are dead or absent from Singapore or are incapable of acting owing to disability or other cause and no guardian of the minor has been appointed by will or deed or under any other written law for the time being in force or by any competent court, any adult person with whom the minor is residing and by whom he is being maintained;

“minor” means a person who has not attained the age of eighteen years.

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