Singapore legislation
Clause 4
of Developers (Anti-Money Laundering and Terrorism Financing) Bill
Clause 4
Amendment of section 7
Section 7(1) of the Housing Developers (Control and Licensing) Act is amended by inserting, immediately after paragraph (d), the following paragraphs:“(da)has been convicted (whether before, on or after the date of commencement of section 4 of the Developers (Anti‑Money Laundering and Terrorism Financing) Act 2018) of any money laundering or terrorism financing offence;
(db)in the case of a company, has as a substantial shareholder a person mentioned in section 5(1)(e) or (f);”.