Section 47 Banking Act

Cancellation of registration at request of controlling company.

Section 47 banking act. Reinstatement section 47 09. 47 16 1 a person whose membership has been terminated under section 47 06 may be reinstated as a member of the federal credit union only by ordinary resolution of the members. Regulating merchant banks under the banking act 21 may 2019 monetary authority of singapore 10 annex c proposed amendments to the ba this version of the banking act is in draft form and is subject to learane y the attorney general s hamers legend.

1 notwith standing anything contained in section 46 if a contravention or default of the nature referred to in sub section 3 or sub section 4 of section 46 as the case may be is made by a banking company then the reserve bank may impose on such bank ing company. An act to provide for the licensing and regulation of the businesses of banks merchant banks and related institutions and the credit card and charge card business of banks merchant banks and other institutions and matters related thereto. 1 customer information shall not in any way be disclosed by a bank in singapore or any of its officers to any other person except as expressly provided in this act.

Reinstatement section 47 06. Provided that this clause shall not apply to transfer under a gift or an irrevocable trust of a capital asset being shares debentures or warrants allotted by a company directly or indirectly to its employees under. Links to this primary source to view the other provisions relating to this primary source see.

Bank means a public company registered as a bank in terms of this act. Section 47a in banking regulation act 1949. Amendment of section 3 of act 61 of 1973 as amended by section 106 of act 82 of 1986 95.

The state recognizes the vital role of banks in providing an environment conducive to the sustained development of the national economy and the fiduciary nature of banking hat requires high standards of integrity and performance. Act 5 of 2016 wef 30 11 2018 1st january 1971. Central government act section 47 in banking regulation act 1949 47.

Ii iii any transfer of a capital asset under a gift or will or an irrevocable trust. Nothing contained in section 45 shall apply to the following transfers. 23 2001 2 a bank in singapore or any of its officers may for such purpose as may be specified in the first column of the third schedule disclose customer information to such persons or class of persons as may be specified in the second column of that schedule and in compliance with such conditions as may be.