Banking (Amendment) Regulations 2013

Status:

Published in Subsidiary Legislation Supplement
on 24 Oct 2013

No. S 661

Banking Act

(CHAPTER 19)

Banking
(Amendment)
Regulations 2013

In exercise of the powers conferred by sections 31(3)(a) and 78(1) of the Banking Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Banking (Amendment) Regulations 2013 and shall come into operation on 25th October 2013.

Amendment of regulation 24A

2. Regulation 24A of the Banking Regulations (Rg 5) is amended by deleting paragraph (a) and substituting the following paragraph:

“(a)

in the case where revaluation gains with respect to the equity investment are permitted by the Authority to be included in the computation of the bank’s capital funds, the sum of —

(i)	the cost of the equity investment; and
(ii)	the revaluation gains with respect to the equity investment; and”.

[G.N. Nos. S 622/2005; S 170/2006; S 325/2006; S 238/2007; S 401/2008; S 18/2009; S 203/2009; S 360/2009; S 214/2010; S 370/2010; S 56/2011]

Made this 22nd day of October 2013.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[SPD 036/2000; AG/LLRD/SL/19/2010/2 Vol. 1]

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