Banking (Qualifying Subsidiary) (Transitional Provision) Order 2001

No. S 348

Banking (Amendment) Act 2001

(Act 23 of 2001)

Banking (Qualifying Subsidiary) (Transitional Provision) Order 2001

In exercise of the powers conferred by section 42(2) of the Banking (Amendment) Act 2001, the Deputy Prime Minister, BG (NS) Lee Hsien Loong, hereby makes the following Order:

Citation

1.  This Order may be cited as the Banking (Qualifying Subsidiary) (Transitional Provision) Order 2001.

Extension of period of exemption for qualifying subsidiary

2.  The period of exemption, from the capital requirements for a qualifying subsidiary, referred to in section 9A(7) of the Act is extended to end on 17th October 2001.

Made this 16th day of July 2001.

LIM SIONG GUAN

Permanent Secretary
(Special Duties),
Prime Minister’s Office,
Singapore.

[FSG/SLS/020/2000; AG/LEG/SL/19/99/1 Vol.1]