18. Purposes of this Division

The purposes of this Division are —

to enable the Authority to provide information to an AML/CFT authority of a foreign country in connection with the AML/CFT authority’s supervision of foreign financial institutions carrying on any financial activities in that country for compliance with the AML/CFT requirements of that country applicable to those institutions, including the taking of supervisory action against them for a contravention of those requirements;

to enable the Authority to provide information to a domestic authority in connection with —

an investigation into the commission or an alleged commission of an applicable offence by a person;

an enforcement action against a person for the commission or an alleged commission of an applicable offence; or

a supervisory action against a person regulated by the domestic authority for a contravention of an applicable AML/CFT requirement of Singapore; and

to enable an AML/CFT authority to carry out an inspection in Singapore of a financial institution over which the AML/CFT authority exercises consolidated supervision authority.