Singapore legislation
Regulation 6
of Financial Services and Markets (Sanctions and Freezing of Assets of Persons — Iran) Regulations 2023
Regulation 6
Prohibition against provision of assistance, services, funds, assets and resources
Subregulation 1
A financial institution must not —
provide financial assistance;
provide investment, brokering or other financial services, or other related services including insurance or reinsurance; or
transfer funds, economic resources, financial assets or financial services,where the financial institution has information that provides reasonable grounds to believe that the assistance, services, funds, resources or assets could contribute, directly or indirectly, to any sanctioned activity in Iran or by or on behalf of a person or an individual in Iran.
Subregulation 2
In this regulation, “sanctioned activity” means any activity related to the design or technology of ballistic missiles capable of delivering nuclear weapons, including any launch by any specified person using ballistic missile technology.