Clause 2

by inserting, immediately after the definition of “consumer transaction” in subsection (1), the following definitions:“ “financial product” includes any arrangement, transaction or contract regulated, or supplied by any person regulated, under —

any written law administered by the Monetary Authority of Singapore;

the Commodity Trading Act (Cap. 48A); or

such other written law as the Minister may by order prescribe;“financial services” includes any services regulated, or supplied by any person regulated, under —

any written law administered by the Monetary Authority of Singapore;

the Commodity Trading Act; or

such other written law as the Minister may by order prescribe;”;

by deleting sub-paragraph (ii) of paragraph (a) of the definition of “goods” in subsection (1) and substituting the following sub-paragraph:“(ii)financial products and credit, including credit extended solely on the security of land;”;

by inserting, immediately after the definition of "material fact" in subsection (1), the following definitions:“ “motor vehicle” has the same meaning as in section 2 of the Road Traffic Act (Cap. 276);“motor vehicle dealer” means a supplier of motor vehicles;“motor vehicle sale contract” means a contract between a consumer and a motor vehicle dealer for the sale of a motor vehicle to the consumer;”;

by inserting the word “and” at the end of paragraph (c) of the definition of “services” in subsection (1), and by inserting immediately thereafter the following paragraph:“(d)financial services;”;

by inserting, immediately after the definition of “specified body” in subsection (1), the following definition:“ “specified dispute resolution scheme” means, in respect of disputes arising in relation to any consumer transaction, any dispute resolution scheme specified for the purposes of section 7(10) by regulations made under section 20(2)(k) in respect of disputes arising in relation to a class of consumer transactions to which that consumer transaction belongs;”;

by inserting, immediately after the words “agent of the person” in the last line of the definition of “supplier” in subsection (1), the words “, and the word “supply”, with its grammatical variations and cognate expressions, shall have corresponding meanings”; (g)by inserting, immediately after the definition of “time share contract” in subsection (1), the following definition:“ “time share related contract” means a contract to assist a consumer to dispose of his time share rights conferred under a time share contract;”; and

by inserting, immediately after subsection (2), the following subsection:“(3) For the purposes of the definitions of “financial product” and “financial services” in subsection (1), a reference to a person regulated under a written law shall include a person exempted from being licensed, approved or regulated under that written law.”.