All provisions · AML/CFT Regulations 2020 · Part I: Preliminary
r.2 Interpretation
(1) In these regulations, unless the context otherwise requires—
“Act” means the Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251);
“Appeals Board” means the Appeals Board constituted under section 61(1) of the Act;
“related staff” means any staff member, of the reporting entity, during the course of performing their normal duties also performs functions that are relevant to the anti-money laundering and countering the financing of terrorism measures and activities;
“staff” means all employees, executives, short and long-term consultants of the reporting entities;
and “transaction” includes an attempted transaction regardless of the amount of the transaction. “transaction hashes” means unique identifiers, similar to a receipt, that serve as proof that a transaction was validated and added to the blockchain; (inserted by S.I 67 of 2024)
(2) Words and expressions used in these regulations and not defined, but defined in the Act, shall have the same meanings assigned to them in the Act.
“Act” means the Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251);
“Appeals Board” means the Appeals Board constituted under section 61(1) of the Act;
“related staff” means any staff member, of the reporting entity, during the course of performing their normal duties also performs functions that are relevant to the anti-money laundering and countering the financing of terrorism measures and activities;
“staff” means all employees, executives, short and long-term consultants of the reporting entities;
and “transaction” includes an attempted transaction regardless of the amount of the transaction. “transaction hashes” means unique identifiers, similar to a receipt, that serve as proof that a transaction was validated and added to the blockchain; (inserted by S.I 67 of 2024)
(2) Words and expressions used in these regulations and not defined, but defined in the Act, shall have the same meanings assigned to them in the Act.
Official source: Anti-Money Laundering and Countering the Financing of Terrorism Regulations, 2020 (S.I. 108 of 2020), Revised Edition as at 17 January 2025 (S.I.s 108 of 2020, 139 of 2020, 156 of 2020, 6 of 2022, 67 of 2024)
