Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 · 2020 Revised Edition · Part 4 · Monitoring and Enforcement
25. Power to seize property, etc., in certain circumstances
Feedback & supportThe Registrar may seize any property —
Registrar
“Registrar” means the Registrar of Regulated Dealers appointed under section 4(1);
in respect of which a contravention of this Act is suspected to have been committed;
that is suspected to have been used or intended to be used in a contravention of this Act; or
that is suspected to constitute evidence of a contravention of this Act.
Subsection (1) does not apply to property held or suspected to be held in an account or a safe deposit box in a financial institution.
financial institution
“financial institution” has the meaning given by section 27A(6) of the Monetary Authority of Singapore Act 1970 read with section 27A(7) of that Act;
The occupier or person in charge of a place from which property is to be seized under subsection (1), or a representative of the occupier or person in charge, may attend during the seizure.
The Registrar must prepare and sign a list of any property seized under subsection (1), recording the location from which each item of property is seized.
A signed copy of the list must be given to the occupier or person in charge of the place from which property was seized, or a representative of the occupier or person in charge.
Instead of seizing any property under subsection (1), the Registrar may, by written order —
prohibit any person from dealing with the property; and
require any person to affix the order or a copy of the order on or near the property.