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No. S 553
Post Office Savings Bank of Singapore Act
Post Office Savings Bank (Services) (Amendment) Rules 1998
In exercise of the powers conferred by sections 29 and 50 of the Post Office Savings Bank of Singapore Act, the Post Office Savings Bank of Singapore, with the approval of the Minister for Finance, hereby makes the following Rules:
Citation and commencement
1.  These Rules may be cited as the Post Office Savings Bank (Services) (Amendment) Rules 1998 and shall come into operation on 14th November 1998.
New rule 11A
2.  The Post Office Savings Bank (Services) Rules (R 4) (referred to in these Rules as the principal Rules) are amended by inserting, immediately after rule 11, the following rule:
ATMs at which ATM card may be used
11A.  The ATM card may be used only at such ATMs as the Bank may permit from time to time.”.
New rule 18A
3.  The principal Rules are amended by inserting, immediately after rule 18, the following rule:
Other Electronic Banking Services
Provision of services
18A.  --(1) The Bank may provide banking services through the internet and any other forms of electronic banking services as the Bank may deem fit from time to time.
(2)  All such services shall be made available to such depositors and be subject to such terms and conditions as the Bank may prescribe from time to time.”.
Amendment of rule 22
4.  Rule 22 (a) of the principal Rules is amended by deleting the word "bank" and substituting the word "Bank".
Deletion and substitution of rule 26
5.  Rule 26 of the principal Rules is deleted and the following rule substituted therefor:
26.  --(1) A depositor shall accept full responsibility for all transactions made by the use of the ATM card issued to him or by the use of the POSBline or any other electronic banking services using his Account Identification Code, Personal Identification Number, password or other access codes.
(2)  A depositor shall be liable for all losses arising from unauthorised use of his ATM Card, Account Identification Code, Personal Identification Number, password or other access codes howsoever arising and shall waive all and any rights and remedies against the Bank in respect of any use of the ATM Card, Account Identification Code, Personal Identification Number, password or other access codes whether made with or without his knowledge or consent.
(3)  The Bank shall not be responsible for any defects in the goods or inadequacy in the services purchased or paid for by the use of the ATM card at any point of sale electronic banking facility or any other electronic banking services.”.
Miscellaneous amendments
6.  The principal Rules are amended by inserting, immediately after the word "POSBline" wherever it appears in rules 27(3), 29(2) and 30(2) the words "or any other electronic banking services".
Amendment of rule 33
7.  Rule 33 of the principal Rules is amended by inserting, immediately after paragraph (1), the following paragraph:
(1A)  All goods and services tax payable in respect of any charges and payments in connection with any account of the depositor with the Bank or any services provided by the Bank to the depositor shall be borne by the depositor unless the Bank prescribes otherwise.”.
New rule 34A
8.  The principal Rules are amended by inserting, immediately after rule 34, the following rule:
Power of Bank to amend terms and conditions
34A.  --(1) The Bank may from time to time add to, delete or vary all or any of the terms and conditions described in these Rules.
(2)  Such amended terms and conditions shall take effect and bind each depositor from such date as the Bank may prescribe provided such amendments or a set of the amended terms and conditions are exhibited at the branches of the Bank at which transactions on the depositor's account may be conducted or publicised by the Bank through any media.
(3)  Upon such exhibition or publication, the depositor shall be deemed to have notice of such amended terms and conditions.
(4)  If the depositor does not agree to any such amendment, the depositor shall discontinue use of the service to which the amendment applies.
(5)  If the depositor continues to use that service after the amendments have been so exhibited or publicised, the depositor shall be deemed to have agreed to the amendments without reservation.”.
New rule 36
9.  The principal Rules are amended by inserting, immediately after rule 35, the following rule:
36.  These Rules shall apply to and bind all depositors to whom the services provided by the Bank are made available whether before or after 14th November 1998.”.
[G.N. No. S 361/96]
[POSB 070202/2 Vol. 1; MF F45.1.008; AG/LEG/SL/237/98/1 Vol. 1]