Singapore legislation

Regulation 11

of Payment Services Regulations 2019

Regulation 11

Prohibition against solicitations

For the purposes of section 9(5) of the Act, the considerations with which a person must have regard to in determining whether an offer, invitation or advertisement is made or issued to the public or any section of the public in Singapore are —

(a)

whether the offer, invitation or advertisement contains any information specifically relevant to Singapore;

(b)

whether the offer, invitation or advertisement is published in or through any of the following:

(i)

any newspaper, magazine, journal or other periodical publication;

(ii)

any broadcast media;

(iii)

any website, mobile application or other electronic media;

(iv)

any poster or notice;

(v)

any circular, handbill, brochure, pamphlet, book or other document,which is principally for —

(vi)

display, circulation, reception or use in Singapore;

(vii)

display or circulation to persons in Singapore; or

(viii)

reception or use by persons in Singapore;

(c)

whether the offer, invitation or advertisement, directly or indirectly, states that e‑money or any digital payment token is available to be purchased or otherwise acquired by persons in Singapore;

(d)

whether the offer, invitation or advertisement, directly or indirectly, states that e‑money denominated in Singapore dollars is available to be purchased or otherwise acquired;

(e)

whether the offer, invitation or advertisement is for dealing in or facilitating the exchange of digital payment tokens in exchange for Singapore dollars;

(f)

whether the offer, invitation or advertisement contains a prominent notice that no payment service is provided to any person in Singapore, and whether the notice is viewed with or before the advertisement; and

(g)

whether any reasonable step is taken to guard against the provision of any payment service to any person in Singapore.

Read in full context — Payment Services Regulations 2019 →