Sets out the indemnity given to any public officer, any person appointed under Directive 14(2) to advise a merchant bank in the proper conduct of business, or any person who has assumed control of the merchant bank’s business pursuant to Directive 14(2).
Sets out MAS powers if a merchant bank is unable to meet its obligations, insolvent, or suspend payments, or if MAS determines that it is conducting business to the detriment of depositors.