Common use of Applicable Laws, Regulations, Policies and Rules Clause in Contracts

Applicable Laws, Regulations, Policies and Rules. I. Each Account with the Bank shall be maintained and operated subject to the applicable laws and regulations (including, without limitation, the rules and guidelines, from time to time, of the Association of Banks in Singapore and any request, requirement, notice or policy of any regulatory, governmental, fiscal, monetary or other body or authority to which the Bank is subject or submits (whether or not such request, requirement, notice or policy has the force of law) and any exchange control regulation/directive) and the Customer shall fully cooperate with the Bank where any action is required to be taken under any such law or regulation. II. Each Account with the Bank shall be subject to the Bank’s prevailing policies and rules relevant to the maintenance and operation of such Account, including rules on business hours, procedures for opening and closing of accounts, minimum sum requirements, procedures on withdrawal of funds, renewal and tenor of deposits, acceptable currencies, interest rate payment and treatment of unclaimed Account(s) (including non-payment of interest on any terminated account or deficient balances).