Statute Details
- Title: Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013
- Full Title: N/A
- Act Code: TSFA2002-S429-2013
- Type: sl
- Commencement Date: 15 Jul 2013
- Parts: N/A
- Key Sections: 1, 2
- Related Legislation: Terrorism (Suppression of Financing) Act
What Is This Legislation About?
The Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013 is a subsidiary legislation issued under the Terrorism (Suppression of Financing) Act of Singapore. It provides a limited exemption from the general prohibition against dealing with property connected to terrorism financing for two specific individuals - Anis Bin Mohamad Mansor and Faridah Binte Seman.
The purpose of this Order is to allow these two individuals to carry out certain financial transactions related to an insurance policy surrender and deposit of the proceeds, which would otherwise be prohibited under the Terrorism (Suppression of Financing) Act. The exemption is granted subject to specific conditions outlined in the Order.
What Are the Key Provisions?
The key provisions of the Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013 are as follows:
Exemption for Anis Bin Mohamad Mansor: Section 2(1) of the Order exempts Anis Bin Mohamad Mansor from the application of Section 6 of the Terrorism (Suppression of Financing) Act in respect of two specific activities:
- The surrender of his Prudential Insurance Policy No. 08978974 with Prudential Assurance Company Singapore (Pte) Limited.
- The deposit of moneys received from the surrender of, and the investment profits earned under, the above insurance policy, subject to the condition that those moneys are deposited in the bank account of Faridah Binte Seman (NRIC No. S1480903A) designated in the notice of exemption.
Exemption for Faridah Binte Seman: Section 2(2) of the Order also exempts Faridah Binte Seman from the application of Section 6 of the Terrorism (Suppression of Financing) Act in respect of:
- Any withdrawal from the bank account designated in the notice of exemption referred to in Section 2(1).
- The use of the sums withdrawn from the designated bank account.
The exemption for Faridah Binte Seman's use of the withdrawn sums is subject to the conditions stated in the notice of exemption, as per Section 2(3).
How Is This Legislation Structured?
The Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013 is a short, two-section legislation. The first section provides the citation and commencement date of the Order, while the second section outlines the specific exemptions granted to Anis Bin Mohamad Mansor and Faridah Binte Seman.
Who Does This Legislation Apply To?
This legislation applies specifically to two individuals - Anis Bin Mohamad Mansor and Faridah Binte Seman. The exemptions granted by the Order are limited to the financial transactions related to the surrender of Anis Bin Mohamad Mansor's insurance policy and the subsequent deposit and use of the proceeds.
The Order does not have any broader application beyond these two named individuals. It is a targeted exemption granted under the Terrorism (Suppression of Financing) Act.
Why Is This Legislation Important?
The Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013 is important because it demonstrates the flexibility of the Terrorism (Suppression of Financing) Act in allowing for limited exemptions from the general prohibition against dealing with property connected to terrorism financing.
While the Act establishes a broad prohibition to cut off funding for terrorist activities, the Minister for Home Affairs is empowered to grant exemptions in specific cases where the public interest or other compelling circumstances justify it. This Order is an example of the Minister exercising that power to permit two individuals to carry out a financial transaction that would otherwise be prohibited.
From a practical perspective, the exemption granted by this Order allows Anis Bin Mohamad Mansor and Faridah Binte Seman to access and utilize the proceeds from the insurance policy surrender, which could be important for their personal financial circumstances. The conditions attached to the exemption also ensure that the transactions are monitored and the funds are used for legitimate purposes.
Related Legislation
- Terrorism (Suppression of Financing) Act
Source Documents
This article provides an overview of the Terrorism (Suppression of Financing) (Exemption from Prohibition against Dealing) (No. 10) Order 2013 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.