Singapore legislation

Clause 21

of Financial Services and Markets Bill

Clause 21

Conditions for provision of assistance to domestic authority

The Authority may, on the request of a domestic authority, provide the assistance referred to in section 22 to the domestic authority, if the Authority is satisfied that all of the following conditions, and all such other conditions as the Authority may determine, are fulfilled:

(a)

the request is received by the Authority on or after the date of commencement of this Part;

(b)

the assistance requested for is intended to enable the domestic authority to carry out any investigation, or take any enforcement action or supervisory action;

(c)

the type and amount of information requested for is proportionate to, and is of sufficient importance to, the investigation or enforcement action or supervisory action;

(d)

the matter to which the request relates is of sufficient gravity.