RegAlert

Rule · MAS · 30 Jun 2021

Meaning of Customer Under Section 40A of the Banking Act

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MAS Notice 631 clarifies that the definition of 'customer' under section 40A of the Banking Act excludes any company carrying on merchant banking business or investment banking business. This notice applies to all banks in Singapore and takes effect on 1 July 2021. It simultaneously cancels MAS Notice 631 dated 18 July 2001 with the same effective date.

SingaporeMonetary Authority of Singapore

Notices

Last Revised Date: 30 June 2021

Exclusions from the term "customer" under section 40A of the Banking Act.

Operations

Issued pursuant to:

Banking Act (Cap. 19) section 40A

Applies to:

Full Bank (Locally Incorporated)

,

Full Bank (Branch)

,

Wholesale Bank (Branch)

,

Wholesale Bank (Locally Incorporated)

View Notice

Notice 631 Meaning of Customer under Section 40A

(64.3 KB)

This notice applies to all banks in Singapore. It specifies that, under section 40A of the Banking Act, the term "customer" also excludes any company carrying on merchant banking business or investment banking business.

1 Jul 2021
MAS Notice 631 dated 30 Jun 2021 takes effect. MAS Notice 631 dated 18 Jul 2001 (81.6 KB) is cancelled.

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Annotations and obligations
12 definitions
  • Definition / condition 12
  • background, boilerplate

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

Notice 631 Meaning of Customerunder Section 40A2001 · MASNotice 631 Meaning of Customer under Section 40A (2001-07-18)Meaning of Customer UnderSection 40A of the Banking Act2021-06-30 · this documentMeaning of Customer Under Section 40A of the Banking Act (2021-06-30)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Supersedes

Timeline

This document supersedes: Notice 631 Meaning of Customer under Section 40A

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