Banking Act (Chapter 19): Primary legislation governing banking operations in Singapore, regulates banking business and financial institutions, contains key provisions about bank accounts and customer information, and ensures compliance with banking regulations regarding account transfers
Personal Data Protection Act (PDPA): Framework governing the collection, use, and disclosure of personal data in Singapore, ensures proper handling of personal information during account transfers, and requires explicit consent for sharing personal information
AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations including Know Your Customer (KYC) requirements, due diligence procedures, and transaction monitoring requirements
Electronic Transactions Act: Legislation governing electronic transactions and digital signatures in Singapore, particularly relevant if the authorization is to be executed electronically, including requirements for electronic signatures and records
MAS Guidelines: Monetary Authority of Singapore guidelines covering financial institution compliance requirements, customer due diligence measures, and account handling procedures
Common Law Principles: Fundamental legal principles including contract law requirements, agency law principles, and authorization and delegation rules that form the basis of Singapore's legal system
