Skip to content
laws.sgby aturio
In forceAmended2020 Revised Edition
Contents

Part 3A · Prevention of Money Laundering, Proliferation Financing and Terrorism Financing

12F. Person disqualified to be substantial shareholder

Feedback & support
Amended

Last amended by an amending law of 2025. 2 amendments in all.

(1)

A person —

(a)

who has been convicted (whether before, on or after the date of commencement of section 14(k) of the Anti‑Money Laundering and Other Matters (Estate Agents and Developers) Act 2025) of any money laundering, proliferation financing or terrorism financing offence; or (b)if a company, partnership, society or limited liability partnership, which has an individual mentioned in paragraph (a) holding a responsible position in that company, partnership, society or limited liability partnership, as the case may be,must not be or become a substantial shareholder of a licensed housing developer, whether by increasing the person’s shareholding in the licensed housing developer or otherwise.

(2)

A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.

Report

Part 3B

Monitoring and Enforcement Powers

Read on from Part 3B

Part 4

Power to Make Rules and to Issue Directions

Read on from Part 4

Part 5

General

Read on from Part 5