§ 15 — Interpretation of this Part

15. In this Part —“cash” means currency notes and coins (whether of Singapore or of a foreign country or territory) which are legal tender and circulate as money in the country or territory of issue;

“cash equivalent” means anything used as currency that is prescribed for the purposes of this Part;

“designated transaction” means any of the following transactions conducted wholly or partly in Singapore:(a)

a sale of any precious stone, precious metal, precious product or asset‑backed token by a regulated dealer to a customer, for which cash or a cash equivalent exceeding the threshold amount is received as payment;

(b)

2 or more sales of any precious stone, precious metal, precious product or asset‑backed token in a single day by a regulated dealer to the same customer, or to customers whom the regulated dealer knows act on behalf of the same person, for which cash or a cash equivalent in total exceeding the threshold amount is received as payment;

(c)

a purchase of any precious stone, precious metal or precious product from a customer (who is not a regulated dealer) by a regulated dealer (who is a secondhand goods dealer), for which cash or a cash equivalent exceeding the threshold amount is received as payment;

(d)

a transaction prescribed as a designated transaction;

“threshold amount” means $20,000 or its equivalent in value, or an amount prescribed in substitution.