8F. Investigation of certain matters

Question 1

8F. Investigation of certain matters

Answer 1

General overview
[8F.01] Section 8F gives wide powers to the Minister to order an investigation against any person whom he has reason to suspect has committed an offence under the Act, save for banks, insurance companies and certain financial institutions which are separately governed by other legislations.

Question 2

Banks, insurance companies and certain financial institutions
- Minister no power to order production of books for these cos as they’re separately governed

Answer 2

[8F.02] The Minister shall not have power to order the production of any books relating to banking corporations, insurance companies or financial institutions regulated by the Monetary Authority of Singapore (“MAS”). These financial institutions are separately governed by the Banking Act (Cap 19), Insurance Act (Cap 142) and the relevant legislations: see s 8G.