Singapore legislation
Regulation 4
Regulation 4
Designated transaction
Subregulation 1
Each of the following transactions is a designated transaction for the purposes of paragraph (d) of the definition of “designated transaction” in section 15 of the Act:
a redemption of an asset‑backed token from a customer (who is not a regulated dealer) by a regulated dealer, for cash or a cash equivalent exceeding the threshold amount;
2 or more purchases of any precious stone, precious metal or precious product in a single day by a regulated dealer (who is a secondhand goods dealer), from the same customer, or customers whom the regulated dealer knows act on behalf of the same person (none of whom are regulated dealers), for which cash or a cash equivalent in total exceeding the threshold amount is received as payment;
2 or more redemptions of any asset‑backed token in a single day by a regulated dealer from the same customer, or customers whom the regulated dealer knows act on behalf of the same person (none of whom are regulated dealers), for cash or a cash equivalent exceeding the threshold amount.
Subregulation 2
In this regulation, “threshold amount” has the meaning given by section 15 of the Act.