§ 95 — Interpretation of this Division

95. In this Division, unless the context otherwise requires —“domestic authority” —(a)

means any ministry or department of the Government, any Organ of State in Singapore and any statutory body (other than the Authority) established by a public Act for a public function; and

(b)

includes the company designated to be the deposit insurance and policy owners’ protection fund agency under section 56 of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011;

“foreign resolution authority” means an authority of a foreign country or territory which, whether alone or together with one or more other authorities of the foreign country or territory, is responsible for the resolution, or for preparing plans for dealing with the resolution, of a financial institution;

“material” includes any information, book, document or other record in any form whatsoever, and any container or article relating thereto;

“prescribed written law” means the following Acts and the subsidiary legislation made under those Acts:(a)

this Act;

(b)

the Banking Act 1970;

(c)

the Business Trusts Act 2004;

(d)

the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011;

(e)

the Finance Companies Act 1967;

(f)

the Financial Advisers Act 2001;

(g)

the Financial Holding Companies Act 2013;

(h)

the Insurance Act 1966;

(i)

the Monetary Authority of Singapore Act 1970;

(j)

the Payment Services Act 2019;

(k)

the Securities and Futures Act 2001;

(l)

the Trust Companies Act 2005;

(m)

such other Act or Acts as may be prescribed by regulations made under section 135;

“resolution” means any action by an authority (being an authority charged with responsibility for such action) to do either or both of the following:(a)

to maintain financial stability;

(b)

to deal with any serious problem in a financial institution which affects the ability of the financial institution to continue its business or operations as a financial institution, and which, if not dealt with, may cause the financial institution to be no longer able to continue its business or operations as a financial institution.