25. Freezing proceeds of unlicensed moneylending

Terms defined in this Act

• account

  account

  Defined · s 21

  “account” means any deposit or current account opened with a bank;

  Open s 21
• Authority

  Authority

  Defined · s 2

  “Authority” means the Monetary Authority of Singapore established under section 3 of the Monetary Authority of Singapore Act 1970;

  Open s 2
• body corporate

  body corporate

  Defined · s 2

  “body corporate” includes a limited liability partnership;

  Open s 2
• deal with

  deal with

  Defined · s 21

  “deal with” means —(a)in respect of property comprising funds —(i)use, alter, move, allow access to or transfer; or(ii)deal with in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination; and(b)in respect of any other property, use to obtain funds in any way, including (but not limited to) by selling, hiring or mortgaging the property;

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• funds

  funds

  Defined · s 21

  “funds” includes cheques, bank deposits and other financial resources;

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• licence

  licence

  Defined · s 2

  “licence” means a moneylender’s licence issued or renewed under this Act, and “licensee” is to be construed accordingly;

  Open s 2
• property

  property

  Defined · s 21

  “property” means property of every kind, whether tangible or intangible, movable or immovable, and whether situated within or outside Singapore, and includes funds.[15A

  Open s 21