Restrictions on import
23.—(1) Except with the permission of the Authority, no person shall import into Singapore —(a)
such notes as may be specified by order of the Authority, being notes issued by a bank or notes of a class which are or have at any time been legal tender in any territory;
(b)
any Treasury bills; or
(c)
any certificate of title to any security, including any such certificate which has been cancelled, and any document certifying the destruction, loss or cancellation of any certificate of title to a security.
(2) In this section and section 24, “note” includes part of a note, “security” includes a secondary security and “coupon” shall be construed in accordance with the meaning of “security”.
General restrictions on export
24. Except with the permission of the Authority, no person shall export from Singapore —(a)
any postal orders;
(b)
any Treasury bills;
(c)
any gold;
(d)
any of the following documents (including any such document which has been cancelled):(i)
any certificate of title to a security and any coupon;
(ii)
any policy of assurance;
(iii)
any bill of exchange or promissory note expressed in terms of a currency other than that of a scheduled territory and payable otherwise than within the scheduled territories;
(iv)
any document to which section 6 applies not issued by an authorised dealer or in pursuance of a permission granted by the Authority;
(e)
any document certifying the destruction, loss or cancellation of any of the documents referred to in paragraph (d); or
(f)
any such articles exported on the person of a traveller or in a traveller’s baggage as may be prescribed.
Payment for exports
25.—(1) Except with the permission of the Authority, no person shall export any goods of any class or description from Singapore to a destination in such territory as may be prescribed unless the Authority is satisfied —(a)
that payment for the goods has been made to a person resident in Singapore in such manner as may be prescribed in relation to goods of that class or description exported to a destination in that territory, or is to be so made not later than 6 months after the date of exportation; and
(b)
that the amount of the payment that has been made or is to be made is such as to represent a return for the goods which is in all the circumstances in accordance with the objects of this Act.
(2) The Authority may direct that, in cases to which the direction applies, subsection (1)(a) shall have effect as if for the reference to 6 months there were substituted a reference to such longer or shorter period as may be specified in the direction, or as if the words “or is to be so made not later than 6 months after the date of exportation” were omitted.
(3) For the purpose of satisfying itself in the case of any goods as to the matters specified in subsections (1) and (2), the Authority may require the person making entry of the goods for export to deliver to such officer as it may authorise in that behalf together with the entry such declarations signed by such persons as it may require, and where any such declaration has been so required the goods shall not be exported until it has been so delivered.
(4) Where the Authority is not satisfied in the case of any goods as to the matters specified in subsection (1)(b), it shall give its reasons to the person making entry of the goods for export and shall take into consideration any representations made by him.
(5) Any reference in this section to the destination of any goods includes a reference to the ultimate destination thereof.
(6) In this section, “making entry of the goods for export” means furnishing to the Enterprise Singapore Board established by the Enterprise Singapore Board Act 2018 any such document as may be required by regulations made under section 3(2)(b)(i) of the Regulation of Imports and Exports Act 1995 and “entry” shall be construed accordingly. [10/2018]
