Singapore legislation
Section 88
Section 88
Assistance to AML/CFT authorities
Division 2 of Part 5C of the MAS Act applies in relation to a request to MAS from an AML/CFT authority for assistance in relation to a VCC as it applies in relation to a request to MAS from an AML/CFT authority (as defined in section 152 of that Act) for assistance in that Division, subject to the necessary modifications and the following further modifications:
the reference in section 154(1)(a) of the MAS Act to 26 June 2015 is to 14 January 2020;
the reference in section 154(1)(g)(ii) of the MAS Act to the identity of the financial institution is to the identity of the VCC;
the reference in section 154(3)(a) of the MAS Act to any direction issued or regulation made under section 27A or 27B of that Act is to a direction issued or regulation made under section 83 or 84;
a reference in section 155 of the MAS Act to any prescribed written law or any requirement imposed under any such written law is to any prescribed written law as defined in section 152(1) of that Act or this Act, or any requirement imposed under such prescribed written law or this Act;
the reference in section 155(2)(a) of the MAS Act to a financial institution is to the VCC; (f)the reference in section 155(2)(a) of the MAS Act to a chief executive, a director, an executive officer, an employee, an agent or an office holder of a financial institution, is to a director, an executive officer, the manager, an employee, an agent or an office holder of the VCC, the custodian of the VCC (being a non‑umbrella VCC) or the custodian of a sub‑fund of the VCC.