Drug Trafficking (Confiscation of Benefits) Act · 1993 Revised Edition · Part V · Information Gathering Powers
35. Interpretation
Feedback & supportIn this Division —“customer generated financial transaction document”, in relation to a financial institution, means a financial transaction document of the institution —
financial institution
“financial institution” includes —(a)a bank licensed under the Banking Act;(b)a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act;(c)a finance company licensed under the Finance Companies Act;(d)a dealer or an investment adviser licensed under the Securities Industry Act;(e)a futures broker, a futures trading adviser or a futures pool operator licensed under the Futures Trading Act;(f)a company or society registered under the Insurance Act; and(g)such other company or class of companies which the Minister may by order prescribe;
that relates to —
the opening or closing by a person of an account with the institution;
the operation by a person of an account with the institution;
the opening or use by a person of a deposit box held by the institution;
the telegraphic or electronic transfer of funds by the institution on behalf of a person to another person;
the transmission of funds between Singapore and a foreign country or between foreign countries on behalf of a person; or
an application by a person for a loan from the institution (where a loan is made to the person pursuant to the application); and
that is given to the institution by or on behalf of the person (whether or not the document is signed by or on behalf of the person);“essential customer generated financial transaction document”, in relation to a financial institution, means a customer generated financial transaction document other than a document that relates to the operation of an account held with the institution;“financial transaction document”, in relation to a financial institution, means any document that relates to a financial transaction carried out by the institution in its capacity as a financial institution and, without limiting the generality of this, includes a document relating to —
the opening, operating or closing of an account held with the institution; and
the opening or use of a deposit box held by the institution,but does not include a cheque or payment order;“minimum retention period”, in relation to a financial transaction document of a financial institution, means —
if the document relates to the opening of an account with the institution, the period of 6 years after the day on which the account is closed;
if the document relates to the opening by a person of a deposit box held by the institution, the period of 6 years after the day on which the deposit box ceases to be used by the person; or
in any other case, the period of 6 years after the day on which the transaction takes place.
“customer generated financial transaction document”, in relation to a financial institution, means a financial transaction document of the institution —
that relates to —
the opening or closing by a person of an account with the institution;
the operation by a person of an account with the institution;
the opening or use by a person of a deposit box held by the institution;
the telegraphic or electronic transfer of funds by the institution on behalf of a person to another person;
the transmission of funds between Singapore and a foreign country or between foreign countries on behalf of a person; or
an application by a person for a loan from the institution (where a loan is made to the person pursuant to the application); and
that is given to the institution by or on behalf of the person (whether or not the document is signed by or on behalf of the person);
“essential customer generated financial transaction document”, in relation to a financial institution, means a customer generated financial transaction document other than a document that relates to the operation of an account held with the institution;
“financial transaction document”, in relation to a financial institution, means any document that relates to a financial transaction carried out by the institution in its capacity as a financial institution and, without limiting the generality of this, includes a document relating to —
the opening, operating or closing of an account held with the institution; and
the opening or use of a deposit box held by the institution,but does not include a cheque or payment order;
“minimum retention period”, in relation to a financial transaction document of a financial institution, means —
if the document relates to the opening of an account with the institution, the period of 6 years after the day on which the account is closed;
if the document relates to the opening by a person of a deposit box held by the institution, the period of 6 years after the day on which the deposit box ceases to be used by the person; or
in any other case, the period of 6 years after the day on which the transaction takes place.