Singapore legislation

Regulation 7

of Sale of Commercial Properties (Prevention of Money Laundering, Proliferation Financing and Terrorism Financing) Rules 2023

Regulation 7

Customer due diligence measures for person purporting to act on behalf of purchaser

At the relevant time specified in rule 4(1), a developer must perform the following customer due diligence measures in relation to a person purporting to act on behalf of a purchaser:

(a)

ascertain and obtain the identifying information of the person;

(b)

ascertain whether the person is authorised to act on behalf of the purchaser, including by obtaining the appropriate evidence in writing of the authorisation and appointment of the person by the purchaser to act on the purchaser’s behalf.

Read in full context — Sale of Commercial Properties (Prevention of Money Laundering, Proliferation Financing and Terrorism Financing) Rules 2023 →