Singapore legislation
Regulation 7
of Trustees (Transparency and Effective Control) Regulations 2017
Regulation 7
Keeping, etc., of records of information obtained
Amended byS 409/2025 wef 20/06/2025S 409/2025 wef 20/06/2025
Subregulation 1
Amended byS 409/2025 wef 20/06/2025
A trustee of a relevant trust must take reasonable steps to ensure that an accurate record of the information obtained under regulations 3A(1), 4(1), 5(1) and 6(1) is —
(a)
kept and maintained in an easily accessible form;
(b)
updated in a timely manner; and
(c)
retained for a period of at least 5 years after the trustee ceases to be a trustee of the relevant trust.
Subregulation 2
Amended byS 409/2025 wef 20/06/2025
If a trustee of a relevant trust updates any record of any information mentioned in paragraph (1), the trustee must also record the date on which the update is made.