s 26 Merger or consolidation of, or acquisition by, DI Scheme members
26.—(1) Where —(a) a DI Scheme member merges or consolidates with another DI Scheme member; or (b) a DI Scheme member (called in this section the acquiring DI Scheme member) acquires the deposit-taking business of another DI Scheme member to form part of the business of the acquiring DI Scheme member, and there is a subsequent failure of the merged or consolidated DI Scheme member or acquiring DI Scheme member (as the case may be) within one year after the date of the merger, consolidation or acquisition (called in this section the additional cover period), any insured depositor, who has insured deposits placed with both of the original DI Scheme members immediately before the merger, consolidation or acquisition (as the case may be) is entitled to compensation in accordance with this Act as if the merger, consolidation or acquisition did not take place; and in respect of the insured depositor’s insured deposits with each of the original DI Scheme members, is entitled to compensation of an amount not exceeding the Maximum DI Coverage or the amount of insured deposits placed with the relevant DI Scheme member, whichever is lower. (2) The Minister may extend the additional cover period for the insured deposits under subsection (1) —(a) where the Minister is satisfied that it is in the interest of the insured depositors of any DI Scheme member or the public to do so; or (b) to maintain financial stability in Singapore.