Insert, immediately after section 39, the following section:
"Communication of information to foreign authority
39A.—(1) Notwithstanding section 53 or any other written law or rule of law, a Suspicious Transaction Reporting Officer may communicate any thing disclosed to him or any authorised officer under section 38 (1) to a corresponding authority of a foreign country if the conditions specified in subsection (2) are satisfied.
(2) The conditions referred to in subsection (1) are as follows:
(a) there exists an arrangement under which the corresponding authority of the foreign country has agreed to communicate to Singapore, upon Singapore's request, information received by the corresponding authority that corresponds to any thing required to be disclosed to an authorised officer under section 38 (1);
(b) the Suspicious Transaction Reporting Officer is satisfied that the corresponding authority has given appropriate undertakings—
(i) for protecting the confidentiality of any thing communicated to it; and
(ii) for controlling the use that will be made of it, including an undertaking that it will not be used as evidence in any proceedings; and
(c) such other conditions as the Minister may prescribe.
