Singapore legislation
Regulation 7
of Financial Services and Markets (Sanctions and Freezing of Assets of Persons — Iran) Regulations 2023
Regulation 7
Prohibition against provision or transfer of financial services, etc.
Except with the prior written approval of the Authority, a financial institution must not do any of the following:
provide financial assistance to any specified person;
provide investment, brokering, other financial services or other related services including insurance or reinsurance, to any specified person;
transfer funds, economic resources, financial assets or financial services, to any specified person,where the provision or transfer is in relation to —
the supply, sale, transfer, manufacture, maintenance or use of any designated item;
acquisition by a specified person of an interest in a commercial activity, in any country or territory other than Iran, involving uranium mining or the production or use of any designated item; or
investment by a specified person in a commercial activity in Singapore involving uranium mining or the production or use of any designated item.