Approved system of controls to be implemented
Open ↗138.—(1) A casino operator must establish and implement a system of internal controls for the casino operations which satisfies the prescribed internal controls requirements.[36/2012]
(2) The Authority may require a casino operator to submit any part of the casino operator’s system of internal controls for approval by the Authority.[36/2012]
(3) Any approved internal controls must remain in force until amended or substituted with the approval of the Authority.[36/2012]
(4) The casino operator must ensure that the system of internal controls or part thereof approved for the time being under this section for the casino is implemented.[36/2012]
(5) Any casino operator who fails to comply with subsection (1) or (4) shall be liable to disciplinary action.
Customer due diligence measures to combat money laundering, terrorism financing and financing of proliferation of weapons of mass destruction
Open ↗139.—(1) A casino operator must, in the following circumstances, perform such customer due diligence measures to detect or prevent money laundering, terrorism financing and the financing of proliferation of weapons of mass destruction, as may be prescribed in regulations:(a)
when the casino operator opens a patron account;
(b)
when the casino operator enters into a cash transaction with a patron involving $4,000 or more in a single transaction;[Act 24 of 2024 wef 14/11/2024]
(c)
when the casino operator receives a sum of $4,000 or more in a single transaction to be deposited in a deposit account;[Act 24 of 2024 wef 14/11/2024]
(d)
when the casino operator has a reasonable suspicion that a patron is engaged in any money laundering, terrorism financing or the financing of proliferation of weapons of mass destruction;[Act 24 of 2024 wef 14/11/2024]
(e)
when the casino operator has doubts about the veracity or adequacy of any information previously obtained about a patron;
(f)
when carrying out such other activities, or under such other circumstance, as may be prescribed.[4/2014]
[Act 24 of 2024 wef 14/11/2024]
(2) A casino operator must not proceed with the opening of any patron account or with any transaction for any patron account, or with any cash transaction or deposit, as the case may be —(a)
if the casino operator is unable to complete the applicable customer due diligence measures for any reason;
(b)
if the patron in question is unable or unwilling to provide any information requested by the casino operator, or decides to withdraw the application for the opening of the patron account or withdraw the cash transaction or deposit when requested to provide information; or
(c)
under such other circumstances as may be prescribed.[4/2014]
(3) A casino operator must keep all records obtained through the customer due diligence measures taken under subsection (1), including (but not limited to) all copies or records of any identification document, accounts and business correspondence, as well as the results of any analysis undertaken.[4/2014]
(4) Any casino operator which fails to comply with subsection (1), (2) or (3) shall be liable to disciplinary action.[4/2014]
(5) In this section —“cash” means currency notes and coins (whether of Singapore or of a foreign country) which are legal tender and circulate as money in the country of issue;
“patron” means any person who —(a)
opens a patron account with a casino operator; or
(b)
is involved in a cash transaction with a casino operator within its casino premises,
whether or not that person participates in gaming in the casino;
“patron account” means a credit account, a cheque cashing account, a deposit account or any other account opened by or on behalf of a patron with a casino operator.[4/2014]
[Act 24 of 2024 wef 14/11/2024]
Banking
Open ↗140.—(1) Subject to subsection (2), a casino operator must —(a)
keep and maintain separate accounts, as approved by the Authority, at one or more authorised banks for use for all banking transactions arising under this Act in relation to the casino operator; and[Act 29 of 2024 wef 30/10/2024]
(b)
from time to time provide the Authority, as required, and in a form approved by the Authority, with a written authority addressed to the authorised bank or banks referred to in paragraph (a) authorising the authorised bank or banks to comply with any requirements of an inspector exercising the powers conferred by this section.[36/2012]
[Act 29 of 2024 wef 30/10/2024]
(2) [Deleted by Act 29 of 2024 wef 30/10/2024]
(3) An inspector may, by written notice, require the manager or other principal officer of an authorised bank referred to in subsection (1) to provide the inspector with a statement of an account referred to in that subsection and such other particulars relating to the account as may be specified in the notice.
(4) A person to whom a notice is given under subsection (3) must comply with the notice.
(5) An inspector may not exercise the powers conferred by this section without the prior written approval of the Authority.
(6) Any casino operator who fails to comply with subsection (1) shall be liable to disciplinary action.[36/2012]
[Act 29 of 2024 wef 30/10/2024]
Accounts to be kept
Open ↗141.—(1) A casino operator must keep such accounting and other records as correctly record and explain the transactions and financial position of the casino operator.[Act 29 of 2024 wef 30/10/2024]
(2) The accounting and other records must be kept in such a manner as will enable true and fair financial statements, accounts and other documents required to be attached to the financial statements to be prepared from time to time and the financial statements, accounts and other documents required to be attached to the financial statements to be conveniently and properly audited.[Act 29 of 2024 wef 30/10/2024]
(3) Any casino operator who fails to comply with subsection (1) or (2) shall be liable to disciplinary action.
Statement of accounts
Open ↗142.—(1) A casino operator must, as soon as practicable after the end of its financial year, prepare financial statements for the financial year that comply with the requirements of the Accounting Standards and give a true and fair view of the financial position and performance of the casino operator.[Act 29 of 2024 wef 30/10/2024]
(2) Any casino operator who fails to comply with subsection (1) shall be liable to disciplinary action.
(3) In this section, “Accounting Standards” has the meaning given by section 4(1) of the Companies Act 1967.[Act 29 of 2024 wef 30/10/2024]
Keeping of records
Open ↗143.—(1) A casino operator must ensure that all records relating to the operations of the casino are —(a)
kept at a location and in a manner approved by the Authority;
(b)
retained, for the period prescribed for that record or type of record, or a shorter period that the Authority may allow for any particular record or case; and[Act 1 of 2022 wef 01/03/2022]
(c)
available for inspection by an inspector at any time during that period.[36/2012; 4/2014]
(2) The casino operator must ensure that all records relating to the operations of the casino are kept in such a manner as to permit a reconstruction of individual transactions (including the amount and type of currency involved, if any) so as to provide, if necessary, evidence for prosecution of an offence.[4/2014]
(3) The Authority may, by instrument in writing, grant an exemption to a casino operator from all or specified requirements of this section in respect of all or specified, or specified classes of documents and may grant such an exemption subject to conditions.
(4) Any casino operator who fails to comply with subsection (1) or (2) shall be liable to disciplinary action.[4/2014]
Audit
Open ↗144.—(1) A casino operator must, as soon as practicable after the end of its financial year, cause the books, accounts and financial statements of the casino operator in relation to the casino to be audited by a person approved by the Authority to audit the accounting records of the casino operator.
(2) An auditor must not be approved by the Authority as an auditor for a casino operator unless the auditor is able to comply with such conditions in relation to the discharge of the auditor’s duties as may be determined by the Authority.
(3) The Authority may impose such additional duties on an auditor in relation to the auditor’s audit of a casino operator as the Authority considers necessary, the costs of which must be borne by the casino operator.
(4) The casino operator must cause the auditor’s report, the financial statements referred to in section 142(1)(b) and (c) and any additional information or report requested by the Authority to be lodged with the Authority within 4 months after the end of the financial year to which the report, financial statements and additional information or report (if any) relate.[36/2012]
(5) Any casino operator who fails to comply with subsection (1) or (4) shall be liable to disciplinary action.
Special audit
Open ↗144A.—(1) The Authority may, at any time by a written notice —(a)
require a casino operator to appoint a special auditor to review or investigate the casino operator’s affairs and report the special auditor’s findings to the Authority; and
(b)
specify the terms of reference for the special audit referred to in paragraph (a) and the time within which it must be completed.[36/2012]
(2) A casino operator to whom a notice under subsection (1) is directed must engage, at its own expense, a public accountant or other suitably qualified person approved by the Authority to be the special auditor to conduct the special audit in accordance with the terms of reference and within the time specified in the notice.[36/2012]
[Act 29 of 2024 wef 30/10/2024]
(2A) The Authority may, in a case where the matter to be reviewed or investigated is of a confidential, commercially sensitive or security sensitive nature, appoint a special auditor to undertake the special audit mentioned in subsection (1)(a) and recover the cost of the special audit from the casino operator.[Act 29 of 2024 wef 30/10/2024]
(3) The special auditor engaged under subsection (2) or (2A) must submit the special auditor’s report, all relevant supporting documents and such other information or report as the Authority may require in relation to the special audit, to the Authority not later than 60 days after the conclusion of the special audit or within such other period as the Authority may specify in any particular case.[36/2012]
[Act 29 of 2024 wef 30/10/2024]
(4) Any casino operator which fails to comply with subsection (2) shall be liable to disciplinary action.[36/2012]
(5) In this section, “public accountant” means a person who is registered or deemed to be registered under the Accountants Act 2004 as a public accountant.[36/2012]
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
