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Precious Stones and Precious Metals (Exempt Persons) Order 2019

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Type
Subsidiary Legislation
Status
In force
Enacted
2019
Sections
4

Quick answer

About this subsidiary legislation

Precious Stones and Precious Metals (Exempt Persons) Order 2019 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSPMPMLTFPFA-OR1 2019, currently marked in force and first recorded in 2019.

Regulation 1

Citation

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This Order is the Precious Stones and Precious Metals (Exempt Persons) Order 2019.

Regulation 2

Definitions

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In this Order —“foreign dealer” means a regulated dealer that —

(a)

is —

(i)

registered or incorporated outside Singapore, in the case of a body corporate or unincorporate; or

(ii)

habitually resident outside Singapore, in the case of an individual; and

(b)

does not have a permanent establishment, a place of management or a branch in Singapore at which the regulated dealer carries on the business of regulated dealing or business as an intermediary for regulated dealing.

Definition

“foreign dealer” means a regulated dealer that —

(a)

is —

(i)

registered or incorporated outside Singapore, in the case of a body corporate or unincorporate; or

(ii)

habitually resident outside Singapore, in the case of an individual; and

(b)

does not have a permanent establishment, a place of management or a branch in Singapore at which the regulated dealer carries on the business of regulated dealing or business as an intermediary for regulated dealing.

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Regulation 3

Exemption for financial institutions

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Every financial institution that carries on a business of regulated dealing, or business as an intermediary for regulated dealing, in Singapore is exempt from —

(a)

Part 2 of the Act; and

(b)

sections 16, 17(3), 18, 19, 20 and 21 of the Act.

Regulation 4

Exemption for foreign dealers

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Subregulation 1

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A foreign dealer carrying on a business of regulated dealing, or business as an intermediary for regulated dealing, in Singapore on a transitory basis, is exempt from —

(a)

Part 2 of the Act; and

(b)

section 19 of the Act.

Subregulation 2

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A foreign dealer carries on business in Singapore on a transitory basis if the foreign dealer carries on business in Singapore for not more than a total of 90 days in a year.

Common questions

What is Precious Stones and Precious Metals (Exempt Persons) Order 2019?
Precious Stones and Precious Metals (Exempt Persons) Order 2019 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSPMPMLTFPFA-OR1 2019, currently marked in force and first recorded in 2019.
Is Precious Stones and Precious Metals (Exempt Persons) Order 2019 still in force?
Yes — Precious Stones and Precious Metals (Exempt Persons) Order 2019 is currently in force.
When did Precious Stones and Precious Metals (Exempt Persons) Order 2019 take effect?
Precious Stones and Precious Metals (Exempt Persons) Order 2019 was first recorded in 2019.
How many regulations does Precious Stones and Precious Metals (Exempt Persons) Order 2019 have?
Precious Stones and Precious Metals (Exempt Persons) Order 2019 contains 4 regulations.
Where can I read the official version of Precious Stones and Precious Metals (Exempt Persons) Order 2019?
The official text of Precious Stones and Precious Metals (Exempt Persons) Order 2019 is published at sso.agc.gov.sg.