s 79 Transitional licensing provisions
79. Despite sections 4 and 9, any bank specified in the First Schedule which on 1 January 1970 was carrying on banking business in Singapore is, as from 1 January 1971, granted a licence under this Act, which may be made subject to such conditions (if any) as are contained in any licence under which the bank was carrying on banking business in Singapore immediately before that date.
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