Legal Profession (Prevention of Money Laundering and Financing of Terrorism) (Amendment) Rules 2015

Status:

Published in Subsidiary Legislation Supplement
on 12 Nov 2015

No. S 697

Legal Profession Act

(CHAPTER 161)

Legal Profession
(Prevention of Money Laundering
and Financing of Terrorism)
(Amendment) Rules 2015

In exercise of the powers conferred by section 70H of the Legal Profession Act, the Council of the Law Society of Singapore, with the approval of the Minister for Law, makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Legal Profession (Prevention of Money Laundering and Financing of Terrorism) (Amendment) Rules 2015 and come into operation on 18 November 2015.

Amendment of rule 3

2. Rule 3 of the Legal Profession (Prevention of Money Laundering and Financing of Terrorism) Rules 2015 (G.N. No. S 307/2015) is amended by deleting paragraph (b) and substituting the following paragraph:

“(b)	every foreign lawyer who is a regulated foreign lawyer.”.

Deletion and substitution of rules 27 and 28

3. Rules 27 and 28 of the Legal Profession (Prevention of Money Laundering and Financing of Terrorism) Rules 2015 are deleted and the following rules substituted therefor:

“Prescribed types of disciplinary proceedings

27.—(1) The disciplinary proceedings that may be taken, for a contravention of Part VA of the Act, against an advocate and solicitor who has in force a practising certificate at the time of the contravention are disciplinary proceedings under Part VII of the Act.

(2) The disciplinary proceedings that may be taken, for a contravention of Part VA of the Act, against an advocate and solicitor who is a director, a partner, a consultant or an employee of a law practice, but does not have in force a practising certificate at the time of the contravention, are disciplinary proceedings under section 82A of the Act.

(3) The disciplinary proceedings that may be taken, for a contravention of Part VA of the Act, against a foreign lawyer who is a regulated foreign lawyer at the time of the contravention are disciplinary proceedings under Part VII of the Act.

Prescribed types of regulatory actions

28.—(1) The regulatory actions that may be taken, for a contravention of Part VA of the Act, against any law firm are the regulatory actions under section 133 of the Act.

(2) The regulatory actions that may be taken, for a contravention of Part VA of the Act, against any limited liability law partnership are the regulatory actions under section 145 of the Act.

(3) The regulatory actions that may be taken, for a contravention of Part VA of the Act, against any law corporation are the regulatory actions under section 161 of the Act.

(4) The regulatory actions that may be taken, for a contravention of Part VA of the Act, against any Qualifying Foreign Law Practice or licensed foreign law practice are the regulatory actions under section 175 of the Act.

(5) The regulatory actions that may be taken, for a contravention of Part VA of the Act, against a Joint Law Venture, the constituent foreign law practice of a Joint Law Venture, a Formal Law Alliance or a foreign law practice which is a member of the Formal Law Alliance are the regulatory actions under section 174 of the Act.”.

Made on 9 November 2015.

THIO SHEN YI, SC

President,
Council of the Law Society of Singapore.

[LS/10/LPA(A)/LSRA/2015/KG; AG/LEGIS/SL/161/2015/1 Vol. 3]

(To be presented to Parliament under section 131 (renumbered as section 185 from 18 November 2015) of the Legal Profession Act).

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