Monetary Authority of Singapore Act |
Monetary Authority of Singapore (Resolution of Financial Institutions) (Amendment) Regulations 2021 |
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Citation and commencement |
1. These Regulations are the Monetary Authority of Singapore (Resolution of Financial Institutions) (Amendment) Regulations 2021 and come into operation on 1 July 2021. |
Amendment of regulation 2 |
2. Regulation 2 of the Monetary Authority of Singapore (Resolution of Financial Institutions) Regulations 2018 (G.N. No. S 714/2018) (called in these Regulations the principal Regulations) is amended by deleting the definition of “merchant bank” and substituting the following definition:
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Amendment of regulation 9 |
3. Regulation 9(2) of the principal Regulations is amended by deleting the words “licensed under that Act or a merchant bank approved as a financial institution under the Monetary Authority of Singapore Act” in paragraph (d) of the definition of “derivatives contract”, and substituting the words “or merchant bank”. |
Amendment of Second Schedule |
4. Item 3 of the Second Schedule to the principal Regulations is amended by deleting the words “Section 33(2) of the Act” in the second column and substituting the words “Section 49(2) of the Banking Act as applied by section 55ZJ of that Act”. |
Amendment of Third Schedule |
5. Item 3 of the Third Schedule to the principal Regulations is amended by deleting all the words in the second column and substituting the following words:
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Permanent Secretary, Prime Minister’s Office, Singapore. |
[PPD/PAD/03/2021; AG/LEGIS/SL/186/2020/1 Vol. 1] |
(To be presented to Parliament under section 126(5) of the Monetary Authority of Singapore Act). |