s 25 Publication and exhibition of audited accounts
25.—(1) Every bank must exhibit in a conspicuous position in each of its offices and branches in Singapore —(a) a copy of its latest audited annual balance sheet and profit and loss account, together with any notes thereon, and a copy of the report of the auditors, except that in the case of a bank incorporated outside Singapore, those statements may be made in a manner that complies with the law for the time being applicable in the place of its incorporation or origin; (b) the full and correct names of all persons who are directors for the time being of the bank; and (c) the names of all subsidiary companies for the time being of the bank.[1/2020] (1A) The Authority may, by regulations made under section 78(1), require a bank or class of banks to make available, within a reasonable time, to any person upon the person’s request —(a) copies of the statements mentioned in subsection (1)(a); and (b) a document containing —(i) the full and correct names of all persons who are directors for the time being of the bank; (ii) the names of all subsidiary companies for the time being of the bank; and (iii) any additional information that the bank is required to publish under subsection (4).[1/2020] (2) Every bank must, within 5 months after the close of each financial year or within such period as the Authority may approve, publish in such manner as may be prescribed by regulations a copy of its latest audited annual balance sheet and profit and loss account containing at least such information as the Authority may require by written notice.[1/2020] (3) In the case of a bank incorporated outside Singapore, the statements mentioned in subsection (2) may be made in a manner that complies with the law for the time being applicable in the place of its incorporation or origin. (4) The Authority may, by written notice, require a bank to publish in addition to its balance sheet and profit and loss account under subsection (2) such additional information as the Authority thinks fit.[1/2020] (5) Any bank which fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine of $2,500 for every day or part of a day during which the offence continues after conviction.[5/2016]