Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 7 · International Obligations and Prevention of Money Laundering, Terrorism Financing and Proliferation Financing and Other Offences
89. Assistance to domestic authorities
Feedback & supportLast amended by an amending law of 2022.
Subdivision (3) of Division 2 of Part 4 of the FSMA 2022 applies in relation to a request to MAS from a domestic authority for assistance in relation to a VCC as it applies in relation to a request to MAS from a domestic authority for assistance in that subdivision, subject to the necessary modifications and the following further modifications:
MAS
“MAS” means the Monetary Authority of Singapore established under section 3 of the MAS Act;
[Deleted by Act 18 of 2022 wef 28/04/2023]
a reference in section 22 of the FSMA 2022 to any prescribed written law or any requirement imposed under any such written law is to any prescribed written law as defined in section 17(1) of that Act or this Act, or any requirement imposed under such prescribed written law or this Act;
the reference in section 22(2) of the FSMA 2022 to a financial institution is to the VCC;
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
the reference in section 22(2) of the FSMA 2022 to a chief executive, a director, an executive officer, an employee, an agent or an office holder of a financial institution, is to a director, an executive officer, the manager, an employee, an agent or an office holder of the VCC, the custodian of the VCC (being a non‑umbrella VCC) or the custodian of the sub‑fund of a VCC.
director
“director” has the meaning given by section 4(1) of the Companies Act 1967;