No. S 405
Monetary Authority of Singapore Act
Monetary Authority of Singapore (Merchant Banks — Annual Fees) Notification 2005
1. This Notification may be cited as the Monetary Authority of Singapore (Merchant Banks — Annual Fees) Notification 2005 and shall come into operation on 1st January 2006.
—(1) Every merchant bank approved as a financial institution under section 28 of the Act shall pay to the Authority a fee of $25,000 for each year or part thereof in respect of its supervision by the Authority.
(2) The Authority may, where it considers appropriate, waive or refund wholly or in part the fee payable under sub-paragraph (1).
[FSG MB 02/2005; AG/LEG/SL/186/2002/1 Vol. 5]