Exchange Control Act 1953 · 2020 Revised Edition · Part 3 · Payments
7. Payments in Singapore
Feedback & supportExcept with the permission of the Authority, no person shall do any of the following things in Singapore:
make any payment to or for the credit of a person resident outside the scheduled territories;
make any payment to or for the credit of a person resident in the scheduled territories by order or on behalf of a person resident outside the scheduled territories;
place any sum to the credit of any person resident outside the scheduled territories.
Where a person resident outside the scheduled territories has paid a sum in or towards the satisfaction of a debt due from him, subsection (1)(c) shall not prohibit the acknowledgement or recording of the payment.
scheduled territories
“scheduled territories” means the territories specified in the First Schedule, except that the Authority may at any time by order amend that Schedule, either by the addition or exclusion of territories or otherwise;