Banking Act (Cap. 19): Primary legislation governing banking operations and deposit-taking activities in Singapore. Defines deposits and sets requirements for deposit-taking institutions.
Financial Advisers Act (Cap. 110): Regulates financial advisory services and is particularly relevant if the deposit agreement includes any investment components.
MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore covering deposit-taking, disclosure requirements, transparency standards, and anti-money laundering provisions.
Contract Law (Cap. 53): Common law principles governing contract formation, including requirements for valid contracts such as offer, acceptance, consideration, and intention.
Consumer Protection (Fair Trading) Act: Legislation protecting depositors' rights as consumers and containing provisions against unfair practices in banking and financial services.
Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data, including consent requirements and data protection obligations.
Deposit Insurance and Policy Owners' Protection Schemes Act: Legislation establishing deposit insurance coverage and protection schemes for depositors in Singapore financial institutions.
AML/CFT Requirements: Anti-Money Laundering and Countering the Financing of Terrorism requirements including customer due diligence and reporting obligations for financial institutions.
