Payment Services Act 2019 · 2020 Revised Edition · Part 6 · Assistance to Foreign Regulatory Authorities
84. Interpretation of this Part
Feedback & supportLast amended by an amending law of 2022.
In this Part, unless the context otherwise requires —“enforce” means enforce through criminal or administrative proceedings;“enforcement”, in relation to a regulatory authority, means the taking of any action to enforce a law or regulatory requirement against a specified person, being a law or regulatory requirement that relates to the payment systems or payment services of the foreign country of the regulatory authority concerned;“foreign country” means a country or territory other than Singapore;“investigation”, in relation to a regulatory authority, means an investigation to determine if a specified person has contravened or is contravening a law or regulatory requirement, being a law or regulatory requirement that relates to the payment systems or payment services of the foreign country of the regulatory authority concerned;“material” includes any information, book, document or other record in any form whatsoever, and any container or article relating to that information, book, document or record;“prescribed written law” means this Act, or any of the following Acts, and any subsidiary legislation made under this Act or those Acts:
Banking Act 1970;
Finance Companies Act 1967;
Financial Advisers Act 2001;
Financial Holding Companies Act 2013;
Financial Services and Markets Act 2022;
Insurance Act 1966;
Monetary Authority of Singapore Act 1970;
Securities and Futures Act 2001;
such other Act as the Authority may prescribe;“regulatory authority”, in relation to a foreign country, means an authority of the foreign country exercising any function that corresponds to a regulatory function of the Authority under this Act;“supervision”, in relation to a regulatory authority, means the taking of any action for or in connection with the supervision of —
a licensee that is regulated by the regulatory authority;
licensee
“licensee” means a payment service provider the licence of which is in force;
an operator, a settlement institution or a participant, of a designated payment system, that is regulated by the regulatory authority; or
operator
“operator”, in relation to a payment system, means a person that operates the payment system;
any other person regulated by the regulatory authority.
“enforce” means enforce through criminal or administrative proceedings;
“enforcement”, in relation to a regulatory authority, means the taking of any action to enforce a law or regulatory requirement against a specified person, being a law or regulatory requirement that relates to the payment systems or payment services of the foreign country of the regulatory authority concerned;
“foreign country” means a country or territory other than Singapore;
“investigation”, in relation to a regulatory authority, means an investigation to determine if a specified person has contravened or is contravening a law or regulatory requirement, being a law or regulatory requirement that relates to the payment systems or payment services of the foreign country of the regulatory authority concerned;
“material” includes any information, book, document or other record in any form whatsoever, and any container or article relating to that information, book, document or record;
book
“book” includes any record, register, document or other record of information and any account or accounting record, however compiled, recorded or stored, whether in written or printed form or on microfilm or by electronic process or otherwise;
“prescribed written law” means this Act, or any of the following Acts, and any subsidiary legislation made under this Act or those Acts:
Banking Act 1970;
Finance Companies Act 1967;
Financial Advisers Act 2001;
Financial Holding Companies Act 2013;
Financial Services and Markets Act 2022;
Insurance Act 1966;
Monetary Authority of Singapore Act 1970;
Securities and Futures Act 2001;
such other Act as the Authority may prescribe;
“regulatory authority”, in relation to a foreign country, means an authority of the foreign country exercising any function that corresponds to a regulatory function of the Authority under this Act;
“supervision”, in relation to a regulatory authority, means the taking of any action for or in connection with the supervision of —
a licensee that is regulated by the regulatory authority;
an operator, a settlement institution or a participant, of a designated payment system, that is regulated by the regulatory authority; or
settlement institution
“settlement institution” means a person that provides facilities for —(a)the participants of a payment system to hold funds; and(b)the settling of transactions between the participants;
any other person regulated by the regulatory authority.