Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part IV · Obligations and Sourcing of Funds
42. Amendment of constituent documents
Feedback & supportA prescribed institution shall not make any amendment to its constituent documents, unless it has furnished to the Bank in writing particulars of the proposed amendment and obtained the prior written approval of the Bank.
prescribed institution
“prescribed institution” means a development financial institution which is prescribed by the Minister under subsection 2(1);
(Deleted by Act A1502).
A prescribed institution shall, within thirty days after making any amendment to its constituent documents, furnish to the Bank—
constituent documents
“constituent documents”, in relation to an institution, means the statute, charter, memorandum of association and articles of association, rules and by-laws, partnership agreement, or other instrument, under or by which the institution is established and its governing and administrative structure and the scope of its functions, business, powers and duties are set out, whether contained in one or more documents;
in writing particulars of the amendment duly verified by a statutory declaration made by one of its directors; and
a copy of its amended constituent documents.
(Deleted by Act A1502).
PART IVA
BUSINESS CONDUCT AND CONSUMER PROTECTION
business
“business” means any activity carried on for the purpose of gain or profit and includes all property derived from, or used in, or for the purpose of, carrying on such activity and all rights and liabilities arising from such activity;