Singapore legislation
Regulation 3
Regulation 3
Cash equivalent
Subregulation 1
For the purposes of section 15 of the Act, “cash equivalent” means any of the following:
a cash cheque or traveller’s cheque;
a payment account that contains e-money;
a voucher (whether in physical or electronic form) the redemption of which in accordance with its terms entitles the holder to receive goods or services up to the value stated on or recorded in or in respect of the voucher, whether such value is in terms that are monetary or non‑monetary;
a token, stamp, coupon or other article (whether in physical or electronic form) the redemption of which in accordance with its terms entitles the holder to receive any precious stone, precious metal or precious product up to the value stated on or recorded in or in respect of the token, stamp, coupon, or other article;
any negotiable instrument that is in bearer form, indorsed without any restriction, made out to a fictitious payee or otherwise in such form that title thereto passes upon delivery,and includes a negotiable instrument that has been signed but with the payee’s name omitted.
Subregulation 2
In this regulation, “e-money” and “payment account” have the meanings given by section 2(1) of the Payment Services Act 2019.