PART 1 | Citation and commencement |
| 1. These Rules are the Housing Developers (Anti‑Money Laundering and Terrorism Financing) Rules 2023 and come into operation on 28 June 2023. |
2. In these Rules —| “ascertain”, in relation to the identity of any person, means to find out and verify the person’s identity using objectively reliable and independent source documents, data or information; |
“beneficial owner”, in relation to an entity or a legal arrangement, means —| (a) | an individual who ultimately owns or controls the entity or legal arrangement; | | (b) | an individual who exercises ultimate effective control over the entity or legal arrangement; or | | (c) | an individual on whose behalf the entity or legal arrangement conducts any transaction with a licensed housing developer; |
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“close associate”, in relation to a foreign politically‑exposed person, means —| (a) | a partner of the foreign politically‑exposed person; | | (b) | a person accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the foreign politically‑exposed person; | | (c) | a person whose directions, instructions or wishes the foreign politically‑exposed person is accustomed or under an obligation, whether formal or informal, to act in accordance with; or | | (d) | a person with whom the foreign politically‑exposed person has an agreement or arrangement, whether oral or in writing and whether express or implied, to act together; |
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| “family member”, in relation to a foreign politically‑exposed person, means a spouse, a child, an adopted child or a stepchild, a sibling, an adopted sibling or a stepsibling or a parent or step‑parent, of the foreign politically‑exposed person; |
| “foreign country” means a country, territory or jurisdiction other than Singapore; |
| “foreign politically‑exposed person” means an individual who is or has been entrusted with a prominent public function in a foreign country; |
“identifying information” means all of the following information:| (a) | full name, including any alias used; | | (b) | date of birth, for an individual; | | (c) | place of birth, for an individual; | | (d) | address or addresses, which must be —| (i) | for an individual, the address of the individual’s usual place of residence; or | | (ii) | for a body corporate or unincorporate, the address of its registered office and the address of its principal place of business; |
| | (e) | contact number or numbers; | | (f) | nationality, for an individual, or place of incorporation or registration, for a body corporate or unincorporate; | | (g) | identification number, which must be —| (i) | for an individual, an identity card number, a passport number, a taxpayer identification number, or the number of any other document of identity issued by a government as evidence of the individual’s nationality or residence and bearing a photograph of the individual; or | | (ii) | for a body corporate or unincorporate, a registration number, or the number of any other document issued by any government certifying the incorporation, registration or existence of the body corporate or unincorporate; |
| | (h) | the type of identifying document mentioned in paragraph (g) and the expiry date (if any) of the identifying document; | | (i) | the occupation, for an individual, or the nature of the business, for a body corporate or unincorporate; |
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“prominent public function” includes the role held by —| (a) | a head of state; | | (b) | a head of government; | | (c) | a government minister; | | (d) | a senior politician; | | (e) | a senior civil or public servant; | | (f) | a senior government, judicial or military official; | | (g) | a senior executive of a state‑owned corporation; | | (h) | a senior political party official; | | (i) | a member of the legislature; or | | (j) | a member of the senior management of an international organisation (including a director, deputy director or member of a board of the international organisation, or an equivalent appointment in the international organisation); |
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| “relevant country” means a foreign country that is subject to a call made by the FATF (through a public statement, notice or directive published on its official website at https://www.fatf‑gafi.org/) for countermeasures or enhanced customer due diligence measures. |
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