Singapore legislation

Clause 40

of Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Bill

Clause 40

Amendment of Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act

(1)

Section 3A(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap. 65A, 2000 Ed.) is amended —

(a)

by deleting the word “and” at the end of paragraph (a)(iv); and

(b)

by deleting the word “and” at the end of sub‑paragraph (v) of paragraph (a), and by inserting immediately thereafter the following sub‑paragraphs:“(vi)any cash transaction report submitted to a Suspicious Transaction Reporting Officer under section 17 of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019; and

(vii)

any cash transaction report submitted to a Suspicious Transaction Reporting Officer under section 74A of the Pawnbrokers Act 2015 (Act 2 of 2015); and”.

(2)

Section 41 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act is amended —

(a)

by deleting the word “or” at the end of subsection (1)(d);

(b)

by deleting the comma at the end of paragraph (e) of subsection (1) and substituting a semi‑colon, and by inserting immediately thereafter the following paragraphs:“(f)submitted to a Suspicious Transaction Reporting Officer under section 17 of the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019; or

(g)

submitted to a Suspicious Transaction Reporting Officer under section 74A of the Pawnbrokers Act 2015,”; and

(c)

by deleting the words “, pursuant to section 39(1), under section 48C(5), 48D, 48E(5) or 48J(1) or under any regulations made under section 200 of the Casino Control Act” in subsection (2)(a) and substituting the words “or under section 39(1) or any of the provisions mentioned in subsection (1)(b) to (g)”.

Read in full context — Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Bill →