Singapore legislation

Clause 33

of Prevention of Proliferation Financing and Other Matters Bill

Clause 33

Amendment of Third Schedule

In the Pawnbrokers Act 2015, in the Third Schedule —

(a)

replace the Schedule heading with —“MEASURES FOR PREVENTION OFMONEY LAUNDERING, TERRORISM FINANCINGAND FINANCING OF PROLIFERATION OFWEAPONS OF MASS DESTRUCTION”;

(b)

in paragraph 1(1), in the definitions of “precious metal”, “precious product” and “precious stone”, replace “Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019” with “Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019”;

(c)

in paragraph 2(1)(c) and (3)(a), replace “or terrorism financing” with “, terrorism financing or the financing of proliferation of weapons of mass destruction”;

(d)

in paragraph 3(5), replace “and terrorism financing” with “, terrorism financing and financing the proliferation of weapons of mass destruction”;

(e)

in paragraph 6(4)(b) and (c), replace “and terrorism financing” with “, prevention of terrorism financing and prevention of the financing of proliferation of weapons of mass destruction,”;

(f)

in paragraph 8(2)(b)(i), replace “and terrorism financing” with “, prevention of terrorism financing and prevention of the financing of proliferation of weapons of mass destruction,”;

(g)

in paragraph 9(1)(c)(ii) and (d), (2)(c)(ii) and (d) and (3), replace “a high risk of money laundering or terrorism financing” with “a high risk of money laundering, terrorism financing or financing the proliferation of weapons of mass destruction”;

(h)

in paragraph 9(3)(b), replace “or terrorism financing” with “, terrorism financing or the financing of proliferation of weapons of mass destruction”;

(i)

in paragraph 10(1)(a), replace “and terrorism financing” with “, terrorism financing and financing the proliferation of weapons of mass destruction”;

(j)

in paragraph 10(2), replace sub‑paragraph (b) with —“(b)the risks of money laundering, terrorism financing and financing the proliferation of weapons of mass destruction are high; or”;

(k)

in paragraph 13, replace “or terrorism financing” with “, terrorism financing or financing the proliferation of weapons of mass destruction”; and

(l)

in paragraph 17(a), replace “money laundering or terrorism financing risks” with “risks of money laundering, terrorism financing and financing the proliferation of weapons of mass destruction,”.

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