Singapore legislation
Clause 7
of Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill
Clause 7
Amendment of section 44C
In the Estate Agents Act, in section 44C(1) —
replace paragraph (a) with —“(a)a record of all estate agency work for which —
the licensed estate agent must perform the customer due diligence measures mentioned in section 44B(1) or the counterparty due diligence measures mentioned in section 44BA(2); or (ii)a registered salesperson of the licensed estate agent must perform the customer due diligence measures mentioned in section 44B(2) or the counterparty due diligence measures mentioned in section 44BA(3),containing such particulars as may be prescribed;”;
after paragraph (b), insert —“(ba)a record of all information relating to a counterparty that is kept or obtained by the licensed estate agent, or by a registered salesperson of the licensed estate agent, through the counterparty due diligence measures performed under section 44BA(2) or (3);”; and
in paragraph (c), replace “and (b)” with “, (b) and (ba)”.