Interpretation of this Subdivision
s 141
141. In this Subdivision, a reference to disclosing information includes, in relation to information that is contained in a document, a reference to producing the document.
Securities and Futures Act 2001 PART 9 — SUPERVISION AND INVESTIGATION
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Subdivision (1) — Powers of Authority to require disclosure of information about capital markets products
Acquisition and disposal of capital markets products
s 142
142.—(1) The Authority may, where it considers it necessary for the protection of investors, require the holder of a capital markets services licence to deal in capital markets products, or an exempt person carrying on business in such activity, to disclose to the Authority, in relation to any acquisition or disposal of capital markets products —(a) the name of the person from or through whom or on whose behalf the capital markets products were acquired; or (b) the name of the person to or through whom or on whose behalf the capital markets products were disposed of, and the nature of the instructions given to the holder or exempt person in respect of the acquisition or disposal. [4/2017] (2) The Authority may require a person who has acquired, held or disposed of capital markets products to disclose to the Authority whether the person acquired, held or disposed of those capital markets products (as the case may be) as trustee for, or on behalf of, another person (whether or not as a nominee), and if so —(a) the name of that other person; and (b) the nature of any instructions given to the firstmentioned person in respect of the acquisition, holding or disposal.[4/2017] (3) The Authority may require an approved exchange to disclose to the Authority, in relation to an acquisition or disposal of capital markets products on the organised market of that approved exchange, the names of the members of that approved exchange who acted in the acquisition or disposal.[4/2017] (4) The Authority may require an approved clearing house or a recognised clearing house for an organised market to disclose to the Authority, in relation to any dealing in capital markets products on that organised market, the names of the members of the approved clearing house or recognised clearing house who were concerned in any act or omission in relation to the dealing.[4/2017]
Exercise of certain powers in relation to capital markets products and financial instruments
s 143
143.—(1) This section applies where the Authority considers that —(a) it may be necessary to prohibit trading in securities or securities‑based derivatives contracts or units in a collective investment scheme under section 46; (b) it may be necessary to give a direction or take any action under section 46AA or 81S in relation to any capital markets products or financial instruments; (c) a person may have contravened any of the provisions of Part 7 in relation to any capital markets products; or (d) a person may have contravened any of the provisions of Part 12 in relation to any capital markets products or financial instruments.[4/2017] (2) The Authority may require an officer of an entity or trust, the securities, securities‑based derivatives contracts and units in a collective investment scheme of which are mentioned in subsection (1), to disclose to the Authority any information of which he or she is aware and which may have affected any dealing or trading that has taken place, or which may affect any dealing or trading that may take place, in the securities, securities‑based derivatives contracts and units in a collective investment scheme.[4/2017] (3) Where the Authority believes on reasonable grounds that a person is capable of giving information concerning any of the following matters:(a) any dealing in capital markets products mentioned in subsection (1); (b) any advice given, or any report or analysis issued or published concerning such capital markets products, by the holder of a capital markets services licence to deal in capital markets products, or a representative of such a holder; (c) the financial position of any business carried on by a person who is or has been (either alone or together with another person or other persons) the holder of a capital markets services licence to deal in capital markets products and who has dealt in or given advice or issued or published a report or an analysis concerning such capital markets products; (d) the financial position of any business carried on by a nominee controlled by a person mentioned in paragraph (c) or jointly controlled by 2 or more persons at least one of whom is a person mentioned in that paragraph; (e) an audit of, or any report of an auditor concerning, any book of the holder of a capital markets services licence to deal in capital markets products, being a book relating to dealings in such capital markets products, the Authority may require the person to disclose to the Authority the information that the person has about that matter. [4/2017]
Exercise of certain powers in relation to financial benchmarks
s 144
144.—(1) This section applies where the Authority considers that —(a) it may be necessary to give a direction in relation to any designated benchmark under section 123ZZB; or (b) a person may have contravened any of the provisions of Part 12 in relation to a financial benchmark.[4/2017] (2) Where the Authority believes on reasonable grounds that a person is capable of giving information concerning any of the following matters:(a) the activity of administering a financial benchmark; (b) the activity of providing information in relation to a financial benchmark; (c) the financial position of any authorised benchmark administrator, exempt benchmark administrator, authorised benchmark submitter, exempt benchmark submitter or designated benchmark submitter; (d) the financial position of any business carried on by a nominee controlled by a person mentioned in paragraph (c) or jointly controlled by 2 or more persons, at least one of whom is a person mentioned in that paragraph; (e) an audit of, or any report of an auditor concerning, any book of any authorised benchmark administrator, exempt benchmark administrator, authorised benchmark submitter, exempt benchmark submitter, or designated benchmark submitter, being a book relating to a designated benchmark, the Authority may require the person to disclose to the Authority the information that the person has about that matter. [4/2017]
Self‑incrimination
s 145
145.—(1) A person is not excused from disclosing information to the Authority, under a requirement made of the person under section 142, 143 or 144, on the ground that the disclosure of the information might tend to incriminate the person. (2) Where a person claims, before making a statement disclosing information that the person is required to disclose by a requirement made of the person under section 142, 143 or 144, that the statement might tend to incriminate the person, that statement —(a) is not admissible in evidence against the person in criminal proceedings other than proceedings under section 148; but (b) is admissible in evidence for civil proceedings under Part 12.
Saving for advocates and solicitors
s 146
146.—(1) Nothing in this Subdivision compels the disclosure by an advocate and solicitor, or a legal counsel referred to in section 128A of the Evidence Act 1893, of information containing a privileged communication made by or to him or her in that capacity.[34/2012] (2) An advocate and solicitor, or a legal counsel referred to in section 128A of the Evidence Act 1893, who refuses to disclose the information referred to in subsection (1) is nevertheless obliged to give the name and address (if he or she knows them) of the person to whom, or by or on behalf of whom, that privileged communication was made.[34/2012]
Immunities
s 147
147.—(1) No civil or criminal proceedings, other than proceedings for an offence under section 148, shall lie against any person for disclosing any information to the Authority if the person had done so in good faith in compliance with a requirement of the Authority under section 142, 143 or 144. (2) Any person who complies with a requirement of the Authority under section 142, 143 or 144 is not treated as being in breach of any restriction upon the disclosure of information or thing imposed by any prescribed written law or any requirement imposed thereunder, any rule of law, any contract or any rule of professional conduct.
Offences
s 148
148.—(1) A person who, without reasonable excuse, refuses or fails to comply with a requirement of the Authority under section 142, 143 or 144 shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction. (2) A person who, in purported compliance with a requirement of the Authority under section 142, 143 or 144, discloses information, or makes a statement, that is false or misleading in a material particular shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (3) It is a defence to a prosecution for an offence under subsection (2) if the defendant proves that the defendant believed on reasonable grounds that the information or statement was true and was not misleading.
Copies of or extracts from documents to be admitted in evidence
s 149
149.—(1) Subject to this section, a copy of or extract from a document produced under this Subdivision that is proved to be a true copy of the document or of the relevant part of the document is admissible in evidence as if it were the original document or the relevant part of the original document. (2) For the purposes of subsection (1), evidence that a copy of or extract from a document is a true copy of the document or of a part of the document may be given by a person who has compared the copy or extract with the document or the relevant part of the document and may be given orally or by an affidavit sworn, or by a declaration made, before a person authorised to take affidavits or statutory declarations.
Subdivision (2) — Inspection powers of Authority
Inspection by Authority
s 150
150.—(1) The Authority may inspect under conditions of secrecy, the books of an approved exchange, a recognised market operator, a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house, an approved holding company, an approved trustee mentioned in section 289(1), the holder of a capital markets services licence, an exempt person, an authorised benchmark administrator, an exempt benchmark administrator, an authorised benchmark submitter, an exempt benchmark submitter, a designated benchmark submitter, or a representative.[4/2017] [Act 12 of 2024 wef 24/01/2025] (2) For the purpose of an inspection under this section —(a) a person referred to in subsection (1) or any person in possession of the books, must produce such books to the Authority and give such information and facilities as the Authority may require; and (b) a person referred to in subsection (1) must procure that any person who is in possession of such books produce the books to the Authority and give such information and facilities as the Authority may require. (3) The Authority may —(a) make copies of, or take possession of, any of the books; (b) use, or permit the use of, any of the books for the purposes of any proceedings under this Act; and (c) retain possession of any of the books for so long as is necessary —(i) for the purposes of exercising a power conferred by this section (other than subsection (5)); (ii) for a decision to be made about whether or not any proceedings under this Act to which the books concerned would be relevant should be instituted; or (iii) for such proceedings to be instituted and carried on. (4) No person is entitled, as against the Authority, to claim a lien on any of the books, but such a lien is not otherwise prejudiced. (5) While the books are in the possession of the Authority, the Authority —(a) must permit another person to inspect at all reasonable times such of the books (if any) as the other person would be entitled to inspect if they were not in the Authority’s possession; and (b) may permit another person to inspect any of the books. (6) The Authority may require a person who produced any of the books to the Authority to explain to the best of the person’s knowledge and belief any matter about the compilation of the books or to which the books relate. (7) Any person who, without reasonable excuse, fails to comply with subsection (2) or a requirement of the Authority under subsection (6) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (8) Sections 146 and 147 apply, with the necessary modifications, in relation to the production of any book or disclosure of any information to the Authority under this section. (9) Section 149 applies, with the necessary modifications, in relation to a copy of, or extract from, a book inspected under this section.
Confidentiality of inspection reports
s 150A
150A.—(1) Where a written report or any part of a written report (called in this section the report) has been produced by the Authority upon an inspection under section 150 in respect of any person mentioned in subsection (1) of that section (called in this section the inspected person) and is provided by the Authority to the inspected person, the report must not be disclosed by the inspected person or, if the inspected person is a corporation, by any of its officers or auditors, to any other person except in the circumstances provided under subsection (2).[4/2017] (2) Disclosure of the report referred to in subsection (1) may be made —(a) by the inspected person to any officer or auditor of that inspected person solely in connection with the performance of the duties of the officer or auditor (as the case may be) in that inspected person; (b) by any officer or auditor of the inspected person to any other officer or auditor of that inspected person, solely in connection with the performance of their duties in that inspected person; or (c) to such other person as the Authority may approve in writing.[2/2009] (3) In granting written approval for any disclosure under subsection (2)(c), the Authority may impose such conditions or restrictions as it thinks fit on the inspected person, any of its officers or auditors or the person to whom disclosure is approved, and that person must comply with such conditions or restrictions.[2/2009] (4) The obligation on an officer or auditor referred to in subsection (1) continues after the termination or cessation of his or her employment or appointment by the inspected person.[2/2009] (5) Any person who contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both.[2/2009] (6) Any person to whom the report is disclosed and who knows or has reasonable grounds for believing, at the time of the disclosure, that the report was disclosed to the person in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both, unless the person proves that —(a) the disclosure was made contrary to the person’s desire; (b) where the disclosure was made in any written form, the person had as soon as practicable after receiving the report surrendered or taken all reasonable steps to surrender the report and all copies thereof to the Authority; and (c) where the disclosure was made in an electronic form, the person had as soon as practicable after receiving the report taken all reasonable steps to ensure that all electronic copies of the report had been deleted and that the report and all copies thereof in other forms had been surrendered to the Authority.[2/2009]
Subdivision (3) — Inspection powers of foreign regulatory authority
Inspection by foreign regulatory authority
s 150B
150B.—(1) A foreign regulatory authority of a country or jurisdiction other than Singapore may conduct an inspection in Singapore of the books of —(a) the holder of a capital markets services licence; (b) a person exempted under section 99(1)(a), (b), (c), (d) or (h) from the requirement to hold a capital markets services licence; (c) an approved exchange; (d) a recognised market operator incorporated in Singapore; (e) a licensed trade repository; (f) an approved clearing house; (g) a recognised clearing house incorporated in Singapore; (h) an approved holding company incorporated in Singapore; (i) an approved trustee mentioned in section 289; (j) an authorised benchmark administrator; (k) an exempt benchmark administrator; (l) an authorised benchmark submitter; (m) an exempt benchmark submitter; or (n) a designated benchmark submitter, (called in this section and in section 150C a relevant person) with the prior written approval of the Authority and under conditions of secrecy. [2/2009; 4/2017] [Act 12 of 2024 wef 30/08/2024] (1A) A foreign regulatory authority may, with the prior written approval of the Authority, appoint any person to conduct the inspection under subsection (1) and in such event, this section (other than this subsection) applies to the person as if a reference to the foreign regulatory authority or any official of the foreign regulatory authority in this section includes a reference to the person.[Act 12 of 2024 wef 30/08/2024] (2) In deciding whether to grant approval to a foreign regulatory authority under subsection (1) or (1A), the Authority may have regard to the following considerations:(a) whether the inspection, and the information obtained in the course of the inspection, is required by the foreign regulatory authority for the sole purpose of enabling the foreign regulatory authority to carry out its regulatory functions; (b) whether the foreign regulatory authority has regulatory oversight in its jurisdiction over the relevant person; (c) whether the foreign regulatory authority is prohibited by the laws applicable to it from disclosing information obtained by it in the course of the inspection to any other person; (d) whether the foreign regulatory authority has provided or is willing to provide similar assistance to the Authority; (e) such other matters as the Authority may consider relevant.[2/2009; 4/2017] [Act 12 of 2024 wef 30/08/2024] (3) The Authority may at any time, whether before, on or after giving written approval for an inspection under this section, impose conditions or restrictions on the foreign regulatory authority relating to —(a) the classes of information to which the foreign regulatory authority has or does not have access in the course of the inspection; (b) the conduct of the inspection; (c) the use or disclosure of any information obtained in the course of the inspection; and (d) such other matters as the Authority may determine.[2/2009] (4) The Authority may, in relation to an inspection by a foreign regulatory authority conducted or to be conducted under this section on the relevant person, at any time, by written notice to the relevant person impose any conditions or restrictions on the relevant person, and the relevant person must comply with such conditions or restrictions.[4/2017] (4A) To avoid doubt, this section, and section 150C in relation to an inspection under this section, do not apply to any inspection by a foreign regulatory authority of the books of any person, if —(a) the foreign regulatory authority is an AML/CFT authority as defined in section 17 of the Financial Services and Markets Act 2022, and exercises consolidated supervision authority as defined in that section over that person; and[Act 18 of 2022 wef 28/04/2023] (b) the inspection is solely for the purpose of such consolidated supervision.[31/2017] (4B) Where —(a) the relevant person is a person exempted under section 99(1)(a) or (b); and (b) the foreign regulatory authority has already obtained the approval of the Authority under section 45 of the Banking Act 1970 or section 83 of the Financial Advisers Act 2001 to conduct an inspection under that provision of the relevant person, then the foreign regulatory authority is treated as having obtained the Authority’s written approval under subsection (1). [Act 12 of 2024 wef 30/08/2024] (5) For the purposes of this section and section 150C, a reference to a foreign regulatory authority is a reference to an authority of a country or jurisdiction other than Singapore, exercising any function that corresponds to a regulatory function of the Authority under the Monetary Authority of Singapore Act 1970 or any of the written laws set out in the Schedule to that Act.[2/2009] [Act 18 of 2022 wef 28/04/2023] [Act 12 of 2024 wef 30/08/2024]
Confidentiality of inspection report by foreign regulatory authority
s 150C
150C.—(1) Where a written report or any part of a written report (called in this section the report) has been produced by a foreign regulatory authority upon an inspection under section 150B in respect of any relevant person (called in this section the inspected person) and is provided by the foreign regulatory authority to the inspected person, the report must not be disclosed by the inspected person or, if the inspected person is a corporation, by any of its officers or auditors, to any other person except in the circumstances provided under subsection (2).[2/2009; 4/2017] (2) Disclosure of the report referred to in subsection (1) may be made —(a) by the inspected person to any officer or auditor of that inspected person solely in connection with the performance of the duties of the officer or auditor (as the case may be) in that inspected person; (b) by any officer or auditor of the inspected person to any other officer or auditor of that inspected person, solely in connection with the performance of their duties in that inspected person; (c) to the Authority, if requested by the Authority; or (d) to such other person as the Authority may approve in writing.[2/2009] (3) In granting written approval for any disclosure under subsection (2)(d), the Authority may impose such conditions or restrictions as it thinks fit on the inspected person, any of its officers or auditors or the person to whom disclosure is approved, and that person must comply with such conditions or restrictions.[2/2009] (4) The obligation on an officer or auditor referred to in subsection (1) continues after the termination or cessation of his or her employment or appointment by the inspected person.[2/2009] (5) Any person who contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both.[2/2009] (6) Any person to whom the report is disclosed and who knows or has reasonable grounds for believing, at the time of the disclosure, that the report was disclosed to the person in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both, unless the person proves that —(a) the disclosure was made contrary to the person’s desire; (b) where the disclosure was made in any written form, the person had as soon as practicable after receiving the report surrendered or taken all reasonable steps to surrender the report and all copies thereof to the Authority; and (c) where the disclosure was made in an electronic form, the person had as soon as practicable after receiving the report taken all reasonable steps to ensure that all electronic copies of the report had been deleted and that the report and all copies thereof in other forms had been surrendered to the Authority.[2/2009]
Division 2 — Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.
Power of Minister to appoint inspectors
s 151
151.—(1) Despite anything in this Act, the Minister may, if he or she thinks it in the public interest to do so, appoint any person as an inspector to investigate any matter concerning dealing in capital markets products, administering a designated benchmark or providing information in relation to a designated benchmark.[4/2017] (2) An inspector appointed under subsection (1) has all the powers conferred upon an inspector under Part 9 of the Companies Act 1967 and that Part applies, with the necessary modifications, to such investigation. (3) Any inspector appointed under subsection (1) must report the results of the inspector’s investigation to the Minister and the Minister may, if he or she thinks it in the public interest to do so, cause the report to be printed and published.
Subdivision (1) — Preliminary
Interpretation of this Division
s 152
152. In this Division —“auditor” means a public accountant who is registered or deemed to be registered under the Accountants Act 2004; “computer” and “data” have the meanings given by section 2(1) of the Computer Misuse Act 1993; “law enforcement agency” means any authority or person charged with the duty of investigating offences or charging offenders under any written law; “legal counsel” has the meaning given by section 3(7) of the Evidence Act 1893; “officer” —(a) in relation to the Authority, includes any person employed by the Authority in an executive capacity; and (b) in relation to any corporation (other than a law enforcement agency), has the meaning given by section 4(1) of the Companies Act 1967.[Act 12 of 2024 wef 24/01/2025]
Subdivision (2) — General
Investigation by Authority
s 153
153.—(1) The Authority may conduct such investigation as it considers necessary or expedient for any of the following purposes:(a) to perform any of its functions and duties under this Act; (b) to ensure compliance with this Act or any written direction issued under this Act; (c) to investigate an alleged or suspected contravention of any provision of this Act or any written direction issued under this Act. (2) The Authority may exercise any of its powers under this Division for the purposes of conducting an investigation under subsection (1) despite the provisions of any prescribed written law or any requirement imposed thereunder or any rule of law. (3) Subject to subsection (5), a requirement imposed by the Authority under this Division has effect despite any obligations as to secrecy or other restrictions upon the disclosure of information imposed by any prescribed written law or any requirement imposed thereunder, any rule of law, any contract or any rule of professional conduct. (4) Subject to subsection (5), any person who complies with a requirement imposed by the Authority under this Division is not treated as being in breach of any restriction upon the disclosure of information or thing imposed by any prescribed written law or any requirement imposed thereunder, any rule of law, any contract or any rule of professional conduct. (5) Nothing in this section requires a person to disclose any information subject to legal privilege. (6) No civil or criminal action, other than proceedings for an offence under section 168A, shall lie against any person —(a) for giving assistance to the Authority, including answering questions, if the person had given the assistance or answered the questions in good faith in compliance with a requirement imposed by the Authority under this Division; (b) for providing information, producing books or giving access to data to the Authority, if the person had done so in good faith in compliance with a requirement imposed by the Authority under this Division; or (c) for doing or omitting to do any act, if the person had done or omitted to do the act in good faith and as a result of complying with a requirement imposed by the Authority under this Division. (7) In this section, a reference to a requirement imposed by the Authority under this Division includes a reference to a requirement imposed by an investigator or authorised person under Subdivision (3) or (4).[Act 12 of 2024 wef 24/01/2025]
Confidentiality of investigation reports
s 154
154.—(1) Where a written report or any part of a written report (called in this section the report) has been produced by the Authority in respect of any investigation under section 153 and is provided by the Authority to the person under investigation (called in this section the investigated person), the report must not be disclosed by the investigated person or, if the investigated person is a corporation, by any of its officers or auditors, to any other person except in the circumstances provided under subsection (2). (2) Disclosure of the report mentioned in subsection (1) may be made —(a) by the investigated person to any officer or auditor of that investigated person solely in connection with the performance of the duties of the officer or auditor (as the case may be) in that investigated person; (b) by any officer or auditor of the investigated person to any other officer or auditor of that investigated person, solely in connection with the performance of their duties in that investigated person; or (c) to such other person as the Authority may approve in writing. (3) In granting written approval for any disclosure under subsection (2)(c), the Authority may impose such conditions or restrictions as it thinks fit on the investigated person, any of its officers or auditors or the person to whom disclosure is approved, and that person must comply with such conditions or restrictions. (4) The obligation on an officer or auditor mentioned in subsection (1) continues after the termination or cessation of his or her employment or appointment by the investigated person. (5) Any person who contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (6) Any person to whom the report is disclosed and who knows or has reasonable grounds for believing, at the time of the disclosure, that the report was disclosed to the person in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both, unless the person proves that —(a) the disclosure was made contrary to the person’s desire; (b) where the disclosure was made in any written or printed form, the person had, as soon as practicable after receiving the report, surrendered or taken all reasonable steps to surrender the report and all copies of the report to the Authority; and (c) where the disclosure was made in an electronic form, the person had, as soon as practicable after receiving the report, taken all reasonable steps to ensure that all electronic copies of the report had been deleted and that the report and all copies of the report in other forms had been surrendered to the Authority.[Act 12 of 2024 wef 24/01/2025]
Self-incrimination and saving for advocates and solicitors
s 155
155.—(1) A person is not excused from disclosing information to the Authority, or an investigator or authorised person mentioned in Subdivision (3) or (4), pursuant to a requirement made of the person under any provision of this Division, on the ground that the disclosure of the information might tend to incriminate the person. (2) Where a person claims, before making a statement disclosing information that the person is required to disclose under any provision of this Division to the Authority or to an investigator or authorised person mentioned in Subdivision (3) or (4), that the statement might tend to incriminate the person, that statement is not admissible in evidence against the person in criminal proceedings other than proceedings for an offence under section 168A(4). (3) For the purposes of any proceedings for an offence under this Act, the making of a statement by an accused person made pursuant to a requirement mentioned in subsection (1), is not to be regarded under section 258(3) of the Criminal Procedure Code 2010 as caused by any inducement, threat or promise merely because the Authority, investigator or authorised person had earlier informed the accused person that the accused person was not excused from disclosing information on the ground that the disclosure of the information might tend to incriminate the accused person, if the Authority, investigator or authorised person (as the case may be) believed in good faith, when so informing the accused person, that —(a) the accused person was concerned in an offence under this Act; or (b) a reasonable complaint has been made, or credible information has been received, or a reasonable suspicion exists, that the accused person was concerned in an offence under this Act. (4) Nothing in this Division —(a) compels an advocate and solicitor or legal counsel to disclose or produce a privileged communication, or a book or other material containing a privileged communication, made by or to the advocate and solicitor or legal counsel in that capacity; or (b) authorises the taking of any such book or other material which is in the possession of an advocate and solicitor or legal counsel. (5) Despite subsection (4), an advocate and solicitor or legal counsel —(a) who is required under this Division to disclose or produce a privileged communication, or a book or other material containing a privileged communication, made by or to the advocate and solicitor or legal counsel in that capacity; and (b) who refuses to disclose or produce the privileged communication, book or other material, must give the name and address (if he or she knows them) of the person to whom, or by or on behalf of whom, that privileged communication was made. [Act 12 of 2024 wef 24/01/2025]
Subdivision (3) — Examination of persons
Requirement to appear for examination
s 156
156.—(1) For the purpose of an investigation under this Division, the Authority may, in writing, require a person —(a) to give to the Authority all reasonable assistance in connection with the investigation; and (b) to appear before an officer of the Authority duly authorised by the Authority for examination and to answer questions. (2) A written requirement imposed under subsection (1) must state the general nature of the matter mentioned in that subsection.[Act 12 of 2024 wef 24/01/2025]
Proceedings at examination
s 157
157. The provisions of this Subdivision apply where, pursuant to a requirement made under section 156 for the purposes of an investigation under this Division, a person (called in this Subdivision the examinee) appears before another person (called in this Subdivision the investigator) for examination.[Act 12 of 2024 wef 24/01/2025]
Requirements made of examinee
s 158
158.—(1) The investigator may examine the examinee on oath or affirmation, and may, for that purpose, administer an oath or affirmation to the examinee. (2) The oath or affirmation to be taken or made by the examinee for the purposes of the examination is an oath or affirmation that the statements that the examinee will make are true. (3) The investigator may require the examinee to answer a question that is put to the examinee at the examination and is relevant to a matter that the Authority is investigating, or is to investigate, under this Division.[Act 12 of 2024 wef 24/01/2025]
Examination to take place in private
s 159
159.—(1) The examination must take place in private and the investigator may give directions as to who may be present during the examination or part thereof. (2) A person must not be present at the examination unless the person is —(a) the investigator or the examinee; (b) a person approved by the Authority; or (c) entitled to be present by virtue of a direction under subsection (1).[Act 12 of 2024 wef 24/01/2025]
Record of examination
s 160
160.—(1) The investigator may, and must if the examinee so requests, cause a record to be made of statements made at the examination. (2) If a record made under subsection (1) is in writing or is reduced to writing —(a) the investigator may require the examinee to read the record, or to have it read to the examinee, and may require the examinee to sign it; and (b) the investigator must, if requested in writing by the examinee to give to the examinee a copy of the written record, provide a copy of the written record without charge within a reasonable time, subject to such conditions as the investigator may impose.[Act 12 of 2024 wef 24/01/2025]
Giving copies of record to other persons
s 161
161.—(1) The Authority may, subject to such conditions or restrictions as it may impose, give a copy of a written record of the examination, or such a copy together with a copy of any related book, to an advocate and solicitor acting on behalf of a person who is carrying on, or is contemplating in good faith, a legal proceeding in respect of a matter to which the examination relates. (2) If the Authority gives a copy of a written record or book to a person under subsection (1), the person, or any other person who has possession, custody or control of the copy or a further copy of the copy, must not, except in connection with preparing, beginning or carrying on, or in the course of, any legal proceeding —(a) use the copy or a further copy of the copy; or (b) publish, or communicate to a person, the copy, a further copy of the copy, or any part of the contents of the copy. (3) The Authority may, subject to such conditions or restrictions as it may impose, give to a person other than a person mentioned in subsection (1), a copy of a written record of the examination, or the copy together with a copy of any related book.[Act 12 of 2024 wef 24/01/2025]
Copies given subject to conditions
s 162
162. If a copy of any written record or book is given to a person under section 160(2) or 161(1) or (3) subject to conditions or restrictions imposed by the investigator or the Authority (as the case may be), the person, and any other person who has possession, custody or control of the copy or the further copy of the copy, must comply with the conditions or restrictions.[Act 12 of 2024 wef 24/01/2025]
Subdivision (4) — Powers to obtain information
Power of Authority to order production of books, provision of information or giving of access to data
s 163
163. For the purpose of an investigation under this Division, the Authority may, in writing, require —(a) a person who is believed to possess, or to have power to access, any book, or who is believed to possess any information, relating to any matter under investigation; or (b) a person who is believed to have power to access any data relating to any matter under investigation, to — (c) produce the book or a copy of the book, or to provide the information, at the time and place specified in the written requirement; (d) give the Authority or any officer of the Authority who is authorised by the Authority for this purpose (called in this section an investigator) access to the book or data; or (e) provide such reasonable assistance as the Authority or an investigator may require for the purposes of accessing the book or data.[Act 12 of 2024 wef 24/01/2025]
Power to enter premises without warrant
s 164
164.—(1) In connection with an investigation under this Division, any officer of the Authority who is authorised by the Authority to do so (called in this section an investigator) and such other officers or persons as the Authority has authorised in writing to accompany the investigator (each called in this section an authorised person) may enter any premises. (2) An investigator or authorised person accompanying the investigator must not enter any premises in the exercise of the powers under this section unless the investigator has given the occupier of the premises a written notice which —(a) gives at least 2 working days’ notice of the intended entry; (b) indicates the subject matter and purpose of the investigation; and (c) indicates the nature of the offences investigated. (3) Subsection (2) does not apply —(a) if the investigation relates to an alleged or suspected contravention of any provision of this Act and the investigator has reasonable grounds for suspecting that the premises are, or have been, occupied by a person who is being investigated in relation to the contravention; or (b) if the investigator has taken all such steps as are reasonably practicable to give notice under subsection (2)(a) but has not been able to do so. (4) Where subsection (3) applies, the power of entry conferred by subsection (1) may only be exercised upon production of —(a) evidence of the investigator’s authorisation and the authorisation of every authorised person accompanying the investigator; and (b) a document containing information indicating the subject matter and purpose of the investigation and the nature of the offences investigated. (5) Without affecting section 163, an investigator or authorised person entering any premises under this section may —(a) bring with him or her to the premises such items as appear to him or her to be necessary; (b) require any person on the premises to produce any book or copy of any book or to give access to any data which the investigator or authorised person considers relates to any matter relevant to the investigation; (c) require any person on the premises to state, to the best of the person’s knowledge and belief, where any such book or data is to be found; and (d) take any step, or issue to any person on the premises any requirement, which appears to be necessary for the purpose of preserving or preventing interference with any such book or data.[Act 12 of 2024 wef 24/01/2025]
Warrant to seize books, etc.
s 165
165.—(1) A Magistrate may, on the application of the Authority —(a) issue a warrant, if the Magistrate is satisfied that there are reasonable grounds to suspect that there is, on any particular premises, any book, or a computer in which any data is contained or to which any data is available —(i) being any book or data the production of which, or access to which, has been required under section 163 or 164, but which has not been produced, or access to which has not been given, in compliance with that requirement; or (ii) being any book or data which, if production of which or access to which is required under section 163 or 164, will be concealed, removed, tampered with or destroyed; and (b) if the Magistrate is also satisfied that there are reasonable grounds to suspect that there is, on those premises, any other book, or a computer in which any other data is contained or to which any other data is available, which relates to any matter relevant to the investigation concerned, direct that the powers exercisable under the warrant extend to such other book or computer. (2) A warrant issued under subsection (1) authorises the Authority or any person named in the warrant, with or without assistance —(a) to enter the premises specified in the warrant, using such force as is reasonably necessary for the purpose; (b) to search the premises and to break open and search anything, whether a fixture or not, in the premises; (c) to take possession of, or secure against interference, any book or computer that appears to be a book or computer mentioned in subsection (1)(a) or (b); (d) to require any person to provide an explanation of any book or data that appears to be any book or data mentioned in subsection (1)(a) or (b), or to state, to the best of that person’s knowledge and belief, where any such book or data may be found; (e) to search any person on those premises, if there are reasonable grounds to suspect that the person has in his or her possession any book or computer that appears to be a book or computer mentioned in subsection (1)(a) or (b), or any equipment or article which relates to any matter relevant to the investigation concerned; (f) to remove from those premises for examination any book that appears to be a book mentioned in subsection (1)(a) or (b), or any equipment (including a computer) or article which relates to any matter relevant to the investigation concerned; (g) to access, inspect and check the operation of a computer on the premises specified in the warrant, if there are reasonable grounds to suspect that any data mentioned in subsection (1)(a) or (b) is or has been contained in or available to the computer, or that the computer is a computer mentioned in subsection (1)(a) or (b); (h) to use any computer mentioned in paragraph (g), or cause any such computer to be used —(i) to search any book or data that appears to be a book or any data mentioned in subsection (1)(a) or (b), that is contained in or available to such computer; and (ii) to make a copy of any such book or data; (i) to prevent any other person from gaining access to, or using, any computer mentioned in paragraph (g) (including by changing any username, password or other authentication information required to gain access to the computer); (j) to order any person —(i) to stop accessing or using or to not access or use any computer mentioned in paragraph (g); or (ii) to access or use any such computer only under such conditions as the Authority or any person named in the warrant may specify; and (k) to order —(i) any person whom the Authority or any person named in the warrant reasonably suspects of using, or of having used, a computer mentioned in paragraph (g); (ii) any person having charge of, or otherwise concerned with the operation of, any such computer; or (iii) any person whom the Authority or any person named in the warrant reasonably believes has knowledge of or access to any username, password or other authentication information required to gain access to any such computer, to provide any of the following types of assistance to the Authority: (iv) assistance to gain access to the computer (including assistance through the provision of any username, password or other authentication information required to gain access to the computer); (v) assistance to prevent a person (other than the Authority or any person named in the warrant) from gaining access to, or using, the computer, including assistance in changing any username, password or other authentication information required to gain access to the computer. (3) The Authority or any person named in the warrant may allow any equipment or article mentioned in subsection (2)(f) to be retained on the premises specified in the warrant, subject to such conditions as the Authority or that person may require. (4) Any person entering any premises by virtue of a warrant issued under subsection (1) may bring with him or her to the premises such items as appear to him or her to be necessary. (5) Where a warrant is issued under subsection (1), and there is no one present at the premises specified in the warrant when the Authority or any person named in the warrant proposes to execute the warrant, the Authority or that person must, before executing the warrant —(a) take such steps as are reasonable in all the circumstances to inform the occupier of the premises of the intended entry into the premises; and (b) subject to subsection (6), give the occupier or the occupier’s legal or other representative a reasonable opportunity to be present when the warrant is executed. (6) If the Authority or any person named in the warrant is unable to inform the occupier of the premises of the intended entry into the premises, the Authority or that person must, when executing the warrant, leave a copy of the warrant in a prominent place on the premises. (7) On leaving any premises specified in a warrant issued under subsection (1), the Authority or any person named in the warrant must, if the premises are unoccupied or if the occupier of the premises is temporarily absent, leave the premises as effectively secured as the Authority or that person found the premises. (8) The powers conferred by this section are in addition to, and not in derogation of, any other powers conferred by any other written law or rule of law. (9) In this section —“occupier”, in relation to any premises specified in a warrant issued under subsection (1), includes any person whom the Authority or any person named in the warrant reasonably believes to be the occupier of those premises; “premises” includes any structure, building, aircraft, vehicle or vessel.[Act 12 of 2024 wef 24/01/2025]
Powers where books are produced, etc.
s 166
166.—(1) This section applies where —(a) any book is produced to the Authority, or access to any book, or any data contained in or available to a computer, is given to the Authority —(i) pursuant to a written requirement under section 163; or (ii) during an entry into any premises by an investigator or authorised person under section 164; (b) under a warrant issued under section 165(1), the Authority or a person named therein —(i) takes possession of any book or computer; or (ii) secures any book or computer against interference; or (c) under a previous application of subsection (6), any book or computer is delivered into the possession of the Authority or a person authorised by it. (2) If subsection (1)(a) applies, the Authority may take possession of any book or computer mentioned in that provision. (3) The Authority or, where applicable, a person mentioned in subsection (1)(b) or (c) may —(a) inspect, and make copies of, or take extracts from, a book, or any data contained in or available to the computer, mentioned in that subsection; (b) use, or permit the use of, a book, or any data contained in or available to the computer, mentioned in that subsection for the purposes of any proceedings; (c) retain possession of a book or computer mentioned in that subsection for so long as is necessary —(i) for the purposes of exercising a power conferred by this section; (ii) for a decision to be made about whether or not any proceedings to which the book or any data contained in or available to the computer would be relevant should be instituted; or (iii) for such proceedings to be instituted and carried on; and (d) require any book stored in any electronic form, or any data, which the Authority or person mentioned in subsection (1)(b) or (c) is satisfied relates to any matter relevant to an investigation under this Division, to be produced in a form which can be taken away and which is visible and legible. (4) No person is entitled, as against the Authority or, where applicable, a person mentioned in subsection (1)(b) or (c) to claim a lien on any book or computer mentioned in that subsection, but such a lien is not otherwise prejudiced. (5) While any book or computer is in the possession of the Authority or (where applicable) the person mentioned in subsection (1)(b) or (c), the Authority or the person —(a) must permit another person to inspect at all reasonable times the book or computer as the second-mentioned person would be entitled to inspect if the book or computer were not in the possession of the Authority or the firstmentioned person; and (b) may permit any other person to inspect the book or computer. (6) If subsection (1)(a) or (b)(i) applies, an investigator or authorised person mentioned in subsection (1)(a) or a person mentioned in subsection (1)(b) may deliver any book or computer into the possession of the Authority or of a person authorised by the Authority to receive them. (7) If subsection (1)(a) or (b) or (6) applies, the Authority, an investigator or authorised person mentioned in subsection (1)(a), a person mentioned in subsection (1)(b) or a person into whose possession any book or computer is delivered under subsection (6), may require —(a) if subsection (1)(a) applies — a person who produced the book or gave access to the book or the data contained in or available to the computer; or (b) if subsection (1)(b) applies — a person who was a party to the preparation of the book or any data contained in or available to the computer, to explain, to the best of his or her knowledge and belief, any matter about the preparation of the book or data or any matter to which the book or data relates. [Act 12 of 2024 wef 24/01/2025]
Powers where books not produced, information not provided or access to book or data not given
s 167
167. Where a person fails to comply with a written requirement imposed by the Authority under section 163 to produce any book, provide any information or give access to any book or data, the Authority may require the person to state, to the best of his or her knowledge and belief —(a) the place where such book, or any computer in which such data is contained or to which such data is available, may be found; (b) the person who last had possession, custody or control of such book, or any computer in which such data is contained or to which such data is available, and the place where that person may be found; or (c) the person who possesses such information and the place where that person may be found.[Act 12 of 2024 wef 24/01/2025]
Copies of or extracts from books to be admitted in evidence
s 168
168.—(1) Subject to this section, a copy of or extract from any book referred to in this Division that is proved to be a true copy of the book, or of the relevant part of the book, is admissible in evidence as if it were the original book, or the relevant part of the original book. (2) For the purposes of subsection (1), evidence that a copy of or extract from any book is a true copy of the book or of a part of the book, may be given by a person who has compared the copy or extract with the book or the relevant part of the book, and may be given orally or by an affidavit sworn, or by a declaration made, before a person authorised to take affidavits or statutory declarations.[Act 12 of 2024 wef 24/01/2025]
Offences under this Division
s 168A
168A.—(1) An advocate and solicitor or legal counsel who, without reasonable excuse, fails to comply with section 155(5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000. (2) A person who, without reasonable excuse, refuses or fails to comply with —(a) any requirement imposed under section 156(1), 158(3), 163, 164(5)(b), (c) or (d), 166(3)(d) or (7) or 167; or (b) any requirement imposed pursuant to a warrant issued under section 165(1), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (3) A person who, without reasonable excuse, refuses or fails to comply with —(a) any requirement of an investigator under section 160(2)(a); or (b) section 161(2) or 162, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12 months or to both. (4) A person who —(a) in purported compliance with a requirement imposed under section 155(5), 163, 164(5)(b), (c) or (d), 166(3)(d) or (7) or 167, or pursuant to a warrant issued under section 165(1); or (b) in the course of examination of the person, provides information or makes a statement that is false or misleading in a material particular shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (5) It is a defence to a prosecution for an offence under subsection (4) if the defendant proves that the defendant believed on reasonable grounds that the information or statement was true and not misleading. (6) Any person who, knowing or having reasonable grounds to believe that any book, computer, equipment or article relates to a matter that the Authority is investigating or about to investigate under this Division —(a) conceals, destroys, mutilates or alters that book, computer, equipment or article; or (b) if any such book, computer, equipment or article is within the territory of Singapore, takes or sends the book, computer, equipment or article out of Singapore, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 2 years or to both. (7) A person who, without reasonable excuse, obstructs or hinders the Authority in the exercise of any power under this Division, or obstructs or hinders a person who is exercising any power under section 164(1) or (5) or executing a warrant issued under section 165(1), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. (8) Any occupier or person in charge of any premises who fails to provide, to any person who enters those premises under section 164(1) or under a warrant issued under section 165(1), all reasonable facilities and assistance for the effective exercise of that person’s powers under section 164(1) or (5) or under the warrant (as the case may be) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12 months or to both.[Act 12 of 2024 wef 24/01/2025]
Division 4 — Transfer of evidence
Interpretation of this Division
s 168B
168B. In this Division —“Commercial Affairs Officer” means a Commercial Affairs Officer appointed under section 64 of the Police Force Act 2004; “data” has the meaning given by section 2(1) of the Computer Misuse Act 1993; “police officer” means a member of the Singapore Police Force.[Act 12 of 2024 wef 24/01/2025]
Evidence obtained by Authority may be used in criminal investigations and proceedings
s 168C
168C.—(1) Despite the provisions of any written law or rule of law, the Authority may provide any book, written record of any examination or other information, or access to any data, obtained by the Authority under Division 3 to —(a) a police officer; (b) a Commercial Affairs Officer; or (c) the Public Prosecutor, for the purposes of any investigation into or criminal proceedings against a person for an alleged or suspected contravention of any provision under this Act. (2) To avoid doubt, any book, written record of examination or other information provided, or any data to which access is provided, by the Authority under subsection (1) is not inadmissible in any criminal proceedings by reason only that it was first obtained by the Authority under this Act, and the admissibility thereof is to be determined in accordance with the rules of evidence under written law and any relevant rules of law.[Act 12 of 2024 wef 24/01/2025]
Evidence obtained under Criminal Procedure Code 2010 may be used for purposes of Act
s 168D
168D. Despite the provisions of any written law or any rule of law, any book, data, statement or other information obtained by —(a) a police officer or a Commercial Affairs Officer in the exercise of his or her powers under Divisions 1 and 2 of Part 4 of the Criminal Procedure Code 2010; or (b) an authorised person mentioned in section 20(1) or (1A), 39(1) or 40(2) of the Criminal Procedure Code 2010, in the exercise of his or her powers under those sections, may be provided to the following persons for the following purposes, if it is in the public interest to do so: (c) to the Authority — for the purpose of any investigation under section 153(1); (d) to the Minister or to an Appeal Advisory Committee constituted under section 310 — for the purpose of any appeal against a decision of the Authority under this Act.[Act 12 of 2024 wef 24/01/2025]
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