Singapore legislation
Clause 88
Clause 88
Assistance to AML/CFT authorities
Division 2 of Part VC 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 the date of commencement of section 5 of the Monetary Authority of Singapore (Amendment) Act 2015 (Act 14 of 2015) is to the date of commencement of this Act;
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 or regulation issued or made under section 27A or 27B of that Act is to a direction or regulation issued or 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;
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.