Monetary Authority of Singapore Act |
Monetary Authority of Singapore (Sanctions — Democratic People’s Republic of Korea) Regulations 2009 |
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Citation and commencement |
1. These Regulations may be cited as the Monetary Authority of Singapore (Sanctions — Democratic People’s Republic of Korea) Regulations 2009 and shall come into operation on 13th August 2009. |
Object |
2. The object of these Regulations is to assist in giving effect to Resolution 1874 (2009) of the Security Council of the United Nations. |
Application |
3. These Regulations shall apply to all financial institutions within the meaning of section 27A(6) of the Act. |
Definitions |
4. In these Regulations, unless the context otherwise requires —
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Prohibition against entering into financial transactions or providing financial assistance, services, etc., in relation to designated import items |
5. No financial institution shall —
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Prohibition against entering into financial transactions or providing financial assistance, services, etc., in relation to designated export items |
Prohibition against provision of certain financial services |
7.—(1) No financial institution shall —
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General prohibition |
8. No financial institution shall knowingly do anything that —
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Duty to provide information |
9. Every financial institution which has any fact or information about any transaction, proposed transaction, act or thing prohibited by regulation 5, 6 or 7 shall immediately inform the Authority of that fact or information, and provide such further information relating to the transaction, proposed transaction, act or thing, as the Authority may require. |
Managing Director, Monetary Authority of Singapore. |
[FSG.SLS.1/2002; AG/LEG/SL/186/2005/1 Vol. 3] |
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