Clause 2

by inserting, immediately after the definition of “develop”, the following definitions:“ “FATF” means the intergovernmental body known as the Financial Action Task Force;“FATF Recommendations” means the recommendations issued by the FATF from time to time relating to the prevention of money laundering and the financing of terrorism;”;

by inserting, immediately after the definition of “manager”, the following definition:“ “money laundering or terrorism financing offence” means an offence under —

sections 43 to 48 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap. 65A);

the Terrorism (Suppression of Financing) Act (Cap. 325);

any regulations made under the United Nations Act (Cap. 339);

section 12A(2), 12B(3), 12C(5), 12D(2), 12E(6) or 12F(2) or any rules made under this Act for the prevention of money laundering and terrorism financing, or for the reporting of transactions which may involve money laundering or terrorism financing, necessary or expedient to give effect to any relevant FATF Recommendation; or

section 5A(5), 5B(5), 5C(6), 5D(2) or 5E(4) of the Sale of Commercial Properties Act (Cap. 281) or any rules made under that Act for the prevention of money laundering and terrorism financing, or for the reporting of transactions which may involve money laundering or terrorism financing, necessary or expedient to give effect to any relevant FATF Recommendation;”;

by inserting, immediately after the definition of “public authority”, the following definition:“ “purchaser”, in relation to a licensed housing developer, means a person —

to whom the licensed housing developer grants an option to purchase from the licensed housing developer a unit of any housing accommodation in a building project undertaken by that licensed housing developer; or

who agrees to purchase from the licensed housing developer a unit of any housing accommodation in a building project undertaken by that licensed housing developer, and includes a prospective purchaser;”; and

by inserting, immediately after the definition of “show unit”, the following definition:“ “substantial shareholder”, in relation to a company, has the meaning given by section 81 of the Companies Act;”.