No. S 240
Monetary Authority of Singapore Act
(Chapter 186)
Monetary Authority of Singapore (Freezing of Assets of Former President of Liberia and Connected Persons) (Amendment) Regulations 2006
In exercise of the powers conferred by section 27A(1)(b) of the Monetary Authority of Singapore Act, the Monetary Authority of Singapore hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Monetary Authority of Singapore (Freezing of Assets of Former President of Liberia and Connected Persons) (Amendment) Regulations 2006 and shall come into operation on 27th April 2006.
Deletion and substitution of regulation 4
2.  Regulation 4 of the Monetary Authority of Singapore (Freezing of Assets of Former President of Liberia and Connected Persons) Regulations 2004 (G.N. No. S 260/2004) (referred to in these Regulations as the principal Regulations) is deleted and the following regulation substituted therefor:
“Definitions
4.—(1)  In these Regulations, unless the context otherwise requires —
“1532 List” means the list of individuals or entities identified by the Committee as individuals or entities to whom or which the measures referred to in paragraph 1 of Resolution 1532 (2004) of the Security Council of the United Nations apply, which list is updated from time to time by the Committee, and made available on the Internet through the official United Nations website at http://www.un.org/;
“Committee” means the Committee of the United Nations Security Council established under paragraph 21 of Resolution 1521 (2003) of the Security Council of the United Nations;
“designated person” means any individual or entity set out in the 1532 List subject to the conditions set out in paragraph (2).
(2)  The conditions referred to in the definition of “designated person” in paragraph (1) are —
(a)where any individual or entity is listed in the Schedule to these Regulations in force immediately before 27th April 2006 with effect from the prescribed date, the individual or entity is taken to be a designated person with effect from that prescribed date;
(b)where any individual or entity is added to the 1532 List after 17th June 2005 but before 27th April 2006, the individual or entity is taken to be a designated person with effect from 27th April 2006;
(c)where any individual or entity is added to the 1532 List on or after 27th April 2006, the individual or entity is taken to be a designated person with effect from the date immediately following the date of addition to the 1532 List;
(d)where any individual or entity is removed from the 1532 List after 17th June 2005, the individual or entity ceases to be a designated person with effect from the date of removal from the 1532 List;
(e)where the particulars of any individual or entity in the 1532 List are modified after 17th June 2005 but before 27th April 2006, they are taken to be modified for the purposes of these Regulations with effect from 27th April 2006; and
(f)where the particulars of any individual or entity in the 1532 List are modified on or after 27th April 2006, they are taken to be modified for the purposes of these Regulations with effect from the date immediately following the date of modification in the 1532 List.”.
Amendment of regulation 5
3.  Regulation 5(1) of the principal Regulations is amended by inserting, immediately after the word “to” in sub-paragraph (b), the words “or for the benefit of”.
Deletion of Schedule
4.  The Schedule to the principal Regulations is deleted.
[G.N. Nos. S 488/2004; S600/2004; S 384/2005]

Made this 24th day of April 2006.

HENG SWEE KEAT
Managing Director,
Monetary Authority of Singapore.
[FSG.SLS.1/2002; AG/LEG/SL/186/2005/1 Vol. 1]
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