Singapore legislation

Clause 23

of Corporate and Accounting Laws (Amendment) Bill

Clause 23

Amendment of section 38B

In the Accountants Act, in section 38B —

(a)

delete the definition of “accounting entity”;

(b)

replace the definitions of “AML/CFT requirements” or “Anti‑Money Laundering and Countering the Financing of Terrorism requirements” and “AML/CFT requirements review” with —“ “AML/CFT/CPF requirements” or “Anti‑Money Laundering and Countering the Financing of Terrorism and Proliferation Financing requirements” means the prescribed requirements relating to the detection and prevention of money laundering, the financing of terrorism or proliferation financing by public accountants and accounting entities;“AML/CFT/CPF requirements review” means a review to determine the compliance with any AML/CFT/CPF requirement by an accounting entity and any of its individual practitioners;”;

(c)

in the definition of “entity reviewer”, replace “AML/CFT requirements” with “AML/CFT/CPF requirements”; and

(d)

delete the definition of “individual practitioner”.

Read in full context — Corporate and Accounting Laws (Amendment) Bill →