Page:Terrorism (Suppression of Financing) Act 2002.pdf/9

Rh :(a) deal, directly or indirectly, in any property that he knows or has reasonable grounds to believe is owned or controlled by or on behalf of any terrorist or terrorist entity, including funds derived or generated from property owned or controlled, directly or indirectly, by any terrorist or terrorist entity;
 * (b) enter into or facilitate, directly or indirectly, any financial transaction related to a dealing in property referred to in paragraph (a); or
 * (c) provide any financial services or any other related services in respect of any property referred to in paragraph (a) to, or for the benefit of, or on the direction or order of, any terrorist or terrorist entity.

(2) Any person who contravenes subsection (1) 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 10 years or to both.

(3) Any person who acts reasonably in taking, or omitting to take, measures to comply with subsection (1) shall not be liable in any civil proceedings arising from having taken or omitted to take the measures, if the person took all reasonable steps to satisfy himself that the relevant property was owned or controlled by or on behalf of any terrorist or terrorist entity.

Exemption from prohibition against dealing

7.—(1) The Minister or a person designated by the Minister may exempt any person in Singapore or any citizen of Singapore outside Singapore from section 6 in respect of any specified activity or transaction or a class of such activities or transactions.

(2) The Minister or a person designated by the Minister may make the exemption under subsection (1) subject to any terms and conditions that are required in his opinion, and may amend, suspend, revoke or reinstate the exemption.

(3) If a person has obtained an exemption under subsection (1), any other person involved in carrying out the activity or transaction, or class of activities or transactions, to which the exemption relates is not subject to