Singapore legislation

Regulation 15

of Housing Developers (Prevention of Money Laundering, Proliferation Financing and Terrorism Financing) Rules 2023

Regulation 15

Keeping of records

For the purposes of section 12C(1) of the Act, a licensed housing developer must keep the documents and information (including any analysis performed) relating to a person in respect of whom customer due diligence measures or enhanced customer due diligence measures have been performed for 5 years after —

(a)

if the person is party to or otherwise connected with an unexercised or cancelled option to purchase a unit of any housing accommodation in a building project undertaken by the licensed housing developer — the date on which the option expired or is cancelled;

(b)

if the person is party to or otherwise connected with a terminated or annulled sale and purchase agreement for a unit of any housing accommodation in a building project undertaken by the licensed housing developer — the date on which the agreement is terminated or annulled; or

(c)

if the person is party to or otherwise connected with a sale and purchase of a unit of any housing accommodation in a building project undertaken by the licensed housing developer — the date of completion of the sale and purchase of the unit.

Read in full context — Housing Developers (Prevention of Money Laundering, Proliferation Financing and Terrorism Financing) Rules 2023 →