Singapore legislation

Clause 15

of Prevention of Proliferation Financing and Other Matters Bill

Clause 15

Amendment of section 22

In the PSPM Act, in section 22 —

(a)

in subsection (1)(a), replace “or terrorism financing” with “, terrorism financing or financing the proliferation of weapons of mass destruction”;

(b)

in subsection (1)(b), replace “money laundering or terrorism financing offence” with “relevant offence”;

(c)

in subsection (1), replace paragraph (c) with —“(c)it is necessary or expedient for the written direction to be given for —

(i)

the prevention of money laundering;

(ii)

the prevention of terrorism financing; or

(iii)

the prevention of the financing of proliferation of weapons of mass destruction.”; and

(d)

in subsection (2), replace paragraph (d) with —“(d)at the regulated dealer’s own cost, to appoint an auditor to carry out an audit of the regulated dealer’s compliance with the measures under this Act for —

(i)

the prevention of money laundering;

(ii)

the prevention of terrorism financing; and

(iii)

the prevention of the financing of proliferation of weapons of mass destruction,including an audit of any matters that the Registrar may specifically require for that purpose;”.

Read in full context — Prevention of Proliferation Financing and Other Matters Bill →