Banking (Exemption from Section 4A (1) and (2)) (Consolidation) Notification

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Current version
as at 28 Nov 2024

Banking Act

(Chapter 19, Section 4A(8))

Banking (Exemption from Section 4A (1) and (2)) (Consolidation) Notification

N 3

G.N. No. S 49/2002

REVISED EDITION 2004

(29th February 2004)

The Monetary Authority of Singapore has exempted —

(a)	J.P. Morgan International Bank Limited from section 4A(1) of the Act in respect of any deposit accepted in Singapore on its behalf by JPMorgan Chase Bank from any person in Singapore, in connection with the provision of private banking services in Singapore by JPMorgan Chase Bank on behalf of J.P. Morgan International Bank Limited;
(b)	JPMorgan Chase Bank from section 4A(2) of the Act in respect of any offer or invitation to make any deposit, or to enter or offer to enter into any agreement to make any deposit, with J.P. Morgan International Bank Limited, made in connection with the provision of private banking services in Singapore by JPMorgan Chase Bank on behalf of J.P. Morgan International Bank Limited;
(c)	Banque Transatlantique from section 4A(1) of the Act in respect of any deposit accepted in Singapore on its behalf by Credit Industriel et Commercial from any person in Singapore, in connection with the provision of private banking services in Singapore by Credit Industriel et Commercial on behalf of Banque Transatlantique; and
(d)	Credit Industriel et Commercial from section 4A(2) of the Act in respect of any offer or invitation to make any deposit, or to enter or offer to enter into any agreement to make any deposit, with Banque Transatlantique, made in connection with the provision of private banking services in Singapore by Credit Industriel et Commercial on behalf of Banque Transatlantique,

subject to such conditions as may be specified in letters issued from time to time by the Monetary Authority of Singapore to JPMorgan Chase Bank and Credit Industriel et Commercial.

[S 49/2002 - 15.1.2002]

2. [Deleted by S 164/2005 wef 30/03/2005]

(a)

Chase Manhattan Bank USA N.A. from section 4A(1) of the Act in respect of any deposit denominated in the currency of the United States of America accepted in Singapore on its behalf by JPMorgan Chase Bank from any person in Singapore, in connection with the provision of private banking services in Singapore by JPMorgan Chase Bank on behalf of J.P. Morgan International Bank Limited; and

(b)

JPMorgan Chase Bank from section 4A(2) of the Act in respect of any offer or invitation to make any deposit denominated in the currency of the United States of America, or to enter or offer to enter into any agreement to make any such deposit, with Chase Manhattan Bank USA N.A., made in connection with the provision of private banking services in Singapore by JPMorgan Chase Bank on behalf of J.P. Morgan International Bank Limited,

subject to such conditions as may be specified in letters issued from time to time by the Monetary Authority of Singapore to JPMorgan Chase Bank.

[S 111/2002 - 21.2.2002]

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