Code Of Conduct

Fees Payable By Members Found To Have Breached The Code

21. A fee hereinafter referred to as the "Review Fee" shall be payable to the Bureau by each Member found to have breached the Code by a Compliance Committee and subject to Rules 22 and 23:

21.1 the Review Fee shall be S$2,000.00 for the first 5 days of work undertaken by a Compliance Committee and (unless the Compliance Committee otherwise determines) S$ 500.00 for each additional day taken by the Compliance Committee to determine a matter and make its report;

21.2 where more than one Member is found to have breached the Code by the same Compliance Committee, each such Member shall pay S$1,000.00 for the first 5 days of work undertaken by a Compliance Committee and (unless the Compliance Committee otherwise determines) S$250.00 for each additional day taken by the Compliance Committee to determine a matter and make its report.

22. Any Review Fee paid by a Member may be in addition to any other remedy determined pursuant to Clauses 10.2 and 10.3 of the Code.

23. The Review Fee may be revised from time to time by the Board of Directors of the Bureau with the written approval of The Association of Banks in Singapore.

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