Money-changing and Remittance Businesses (Exemption from sections 12 and 13) Notification

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Money-changing and Remittance Businesses Act

(Chapter 187, Section 31(2))

Money-changing and Remittance Businesses (Exemption from Sections 12 and 13) Notification

N 1

G.N. No. S 688/2005

REVISED EDITION 2008

(31st January 2008)

[2nd November 2005]

Citation

1. This Notification may be cited as the Money-changing and Remittance Businesses (Exemption from sections 12 and 13) Notification.

Exemption

2.—(1) The Authority hereby exempts, from sections 12 and 13 of the Act, any holder of a money-changer’s licence whose carrying on of money-changing business is solely incidental to his business of keeping or managing a hotel.

(2) In this paragraph, “hotel” means any premises registered as a hotel under section 5 of the Hotels Act (Cap. 127).

[G.N. No. S 688/2005]