Monetary Authority of Singapore (Merchant Banks — Annual Fees) Notification 2005

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No. S 405

Monetary Authority of Singapore Act

(Chapter 186)

Monetary Authority of Singapore (Merchant Banks — Annual Fees) Notification 2005

In exercise of the powers conferred by section 29(1) of the Monetary Authority of Singapore Act, the Monetary Authority of Singapore hereby makes the following Notification:

Citation and commencement

1. This Notification may be cited as the Monetary Authority of Singapore (Merchant Banks — Annual Fees) Notification 2005 and shall come into operation on 1st January 2006.

Annual fees

2.—(1) Every merchant bank approved as a financial institution under section 28 of the Act shall pay to the Authority a fee of $35,000 for each year or part thereof in respect of its supervision by the Authority.

[S 804/2014 wef 01/01/2015]

(2) The Authority may, where it considers appropriate, waive or refund wholly or in part the fee payable under sub-paragraph (1).

Made this 21st day of June 2005.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[FSG MB 02/2005; AG/LEG/SL/186/2002/1 Vol. 5]

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