§ 205 — Amendment of Monetary Authority of Singapore Act 1970

205.—(1) Section 23(7A) of the Monetary Authority of Singapore Act 1970 is amended —(a)

by deleting the words “Part 4B” and substituting the words “Part 8 of the Financial Services and Markets Act 2022”; and

(b)

by deleting the words “Division 5B of that Part” in paragraph (a) and substituting the words “Division 10 of Part 8 of that Act”.

(2) The Monetary Authority of Singapore Act 1970 is amended —(a)

by repealing sections 27 to 29;

(b)

by repealing Part 4A (sections 31 to 48);

(c)

by repealing Part 4B (sections 49 to 126);

(d)

by repealing Part 5C (sections 152 to 163); and

(e)

by repealing section 177.

(3) Section 29A of the Monetary Authority of Singapore Act 1970 is amended by inserting, immediately after subsection (4), the following subsection:“(4A) The Authority may recover from the relevant participant the amount of any fees payable to the Authority under any rules made under subsection (4) as a civil debt due to the Authority.”.

(4) Section 178 of the Monetary Authority of Singapore Act 1970 is amended by deleting the words “Parts 4A, 5A and 5B and any regulations made under section 27A, 27B, 28A, 41, 51, 144 or 151” in subsections (1) and (2)(a) and substituting in each case the words “Parts 5A and 5B and any regulations made under section 144 or 151”.

(5) The Schedule to the Monetary Authority of Singapore Act 1970 is amended by inserting, immediately before item 13, the following item:“12B.

Financial Services and Markets Act 2022”.

—(1) Section 23(7A) of the Monetary Authority of Singapore Act 1970 is amended —(a)

by deleting the words “Part 4B” and substituting the words “Part 8 of the Financial Services and Markets Act 2022”; and

(b)

by deleting the words “Division 5B of that Part” in paragraph (a) and substituting the words “Division 10 of Part 8 of that Act”.

(2) The Monetary Authority of Singapore Act 1970 is amended —(a)

by repealing sections 27 to 29;

(b)

by repealing Part 4A (sections 31 to 48);

(c)

by repealing Part 4B (sections 49 to 126);

(d)

by repealing Part 5C (sections 152 to 163); and

(e)

by repealing section 177.

(3) Section 29A of the Monetary Authority of Singapore Act 1970 is amended by inserting, immediately after subsection (4), the following subsection:“(4A) The Authority may recover from the relevant participant the amount of any fees payable to the Authority under any rules made under subsection (4) as a civil debt due to the Authority.”.

“(4A) The Authority may recover from the relevant participant the amount of any fees payable to the Authority under any rules made under subsection (4) as a civil debt due to the Authority.”.

(4) Section 178 of the Monetary Authority of Singapore Act 1970 is amended by deleting the words “Parts 4A, 5A and 5B and any regulations made under section 27A, 27B, 28A, 41, 51, 144 or 151” in subsections (1) and (2)(a) and substituting in each case the words “Parts 5A and 5B and any regulations made under section 144 or 151”.

(5) The Schedule to the Monetary Authority of Singapore Act 1970 is amended by inserting, immediately before item 13, the following item:“12B.

Financial Services and Markets Act 2022”.