Banking Act (Chapter 19): Primary legislation governing banking operations and transactions in Singapore, including provisions for bank account management and authorizations
MAS Guidelines: Regulatory framework issued by Monetary Authority of Singapore covering financial institution regulations, anti-money laundering requirements, and Know Your Customer (KYC) guidelines
Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data, including consent requirements for data sharing in banking transactions
Electronic Transactions Act (Chapter 88): Legal framework for electronic signatures, digital authorizations, and recognition of electronic records in banking transactions
AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations covering customer due diligence requirements and reporting obligations
Banking Industry Standards: Standard practices and protocols followed by banks in Singapore for authorization letters and related banking transactions
Bank-Specific Policies: Internal policies and requirements specific to individual banks that must be considered when drafting authorization letters
Corporate Governance Requirements: Regulations and guidelines related to corporate governance that may affect bank authorization procedures, particularly for corporate accounts
Power of Attorney Requirements: Legal requirements and provisions for Power of Attorney arrangements in banking relationships under Singapore law
