Published Date: 30 June 2021

ID 11/21 Consequential Amendments To Notices Arising From The Banking (Amendment) Act 2020

Informs insurers of the consequential amendments as well as other amendments to certain Notices arising from the Banking (Amendment) Act 2020.
Merchant banks are currently approved under the MAS Act. The Banking (Amendment) Act 2020 introduced a new licensing framework for merchant banks  (MB) in the Banking Act.  As certain Notices make reference to MB, consequential amendments and other amendments had to be made to these Notices.