Singapore legislation

Clause 12

of Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill

Clause 12

Amendment of section 2

In the Housing Developers (Control and Licensing) Act 1965 (called in this Part the Housing Developers (Control and Licensing) Act), in section 2(1) —

(a)

replace the definition of “money laundering or terrorism financing offence” with —“ “money laundering, proliferation financing or terrorism financing offence” means an offence under —

(a)

sections 50 to 57 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992;

(b)

the Terrorism (Suppression of Financing) Act 2002;

(c)

any regulations made under the United Nations Act 2001;

(d)

section 12A(2), 12B(3), 12C(5), 12D(2), 12E(6) or 12F(2) or any rules made under this Act for the prevention of money laundering, proliferation financing and terrorism financing, or for the reporting of transactions suspected of involving money laundering, proliferation financing or terrorism financing;

(e)

section 5A(5), 5B(5), 5C(6), 5D(2) or 5E(4) of the Sale of Commercial Properties Act 1979 or any rules made under that Act for the prevention of money laundering, proliferation financing and terrorism financing, or for the reporting of transactions suspected of involving money laundering, proliferation financing or terrorism financing;

(f)

any provision of any other written law relating to the prevention of money laundering, proliferation financing or terrorism financing; or

(g)

the law of any foreign country or territory relating to the prevention of money laundering, proliferation financing or terrorism financing;”; and

(b)

after the definition of “partner”, insert —“ “proliferation financing” means the financing of the proliferation of weapons of mass destruction;”.

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