On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 18/04/2013.
5A.
—(1) No person shall, without the prior approval of the Authority, in the course of any profession, vocation, trade or business, use any name, logo or trade mark in a manner which indicates or represents that the person or his trade or business is related to or associated with a bank incorporated in Singapore or any of its subsidiaries which carries on a business referred to in section 30(1)(a), (b), (c) or (d).
[23/2001; 1/2007]
(2) No bank incorporated in Singapore shall cause or knowingly permit any person (other than a related corporation of the bank which carries on any business referred to in section 30(1)(a), (b), (c) or (d) or the financial holding company of the bank) to use its name, logo or trade mark in the course of the person’s profession, vocation, trade or business without the prior approval of the Authority.
[23/2001; 1/2007]
(3) Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $125,000 and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part thereof during which the offence continues after conviction; or
(b)
in any other case, to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part thereof during which the offence continues after conviction.
[23/2001]
(4) This section shall not apply, in relation to any bank incorporated in Singapore or any subsidiary of the bank referred to in subsection (1), to —
(a)
any related corporation of the bank which carries on a business referred to in section 30(1)(a), (b), (c) or (d) or the financial holding company of the bank;
(b)
any officer or agent of the bank or of any of its subsidiaries which carries on a business referred to in section 30(1)(a), (b), (c) or (d), in the conduct of any duty or function in or for the bank or the subsidiary, as the case may be;
(c)
any person carrying on a business referred to in section 30(1)(a), (b), (c) or (d) pursuant to any agreement or arrangement with the bank; and
(d)
such other person or class of persons as may be prescribed.
[23/2001; 1/2007]
(5) Nothing in this section shall prevent a person who lawfully uses any name, logo or trade mark in the manner referred to in subsection (1) before 18th July 2001* from continuing to use the name, logo or trade mark in such manner for a period of 3 years from 18th July 2001.
* Date of commencement of the Banking (Amendment) Act 2001 (Act 23 of 2001).
[23/2001]