—(1) A police officer may seize, or prohibit the disposal of or dealing in, any property —
in respect of which an offence is suspected to have been committed;
which is suspected to have been used or intended to be used to commit an offence; or
which is suspected to constitute evidence of an offence.
(2) If the property liable to be seized under subsection (1) is held or suspected to be held in an account or a safe deposit box in a financial institution, a police officer of or above the rank of inspector may, by written order —
direct the financial institution to deliver the property to any police officer; or
direct the financial institution not to allow any dealings in respect of the property in such account or safe deposit box for such period as may be specified in the order.
(3) A police officer to whom any property has been delivered under subsection (2)(a) must, as soon as is reasonably practicable, make a report of his receipt of the property at a police station.
(4) A police officer may exercise the powers conferred under this section notwithstanding any provision in any other law relating to the seizure of, or the prohibition of any disposal of or dealing in, any property.
(5) Where any property held in an account in a financial institution is subject to a written order made by a police officer under subsection (2)(b) —
any interest or other earnings on such account, or any other payments, may be credited into such account after the date on which the written order was made; and
any such interest, other earnings or payments shall be deemed to be subject to that same written order.
(6) Any financial institution which contravenes an order made under subsection (2)(a) or (b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $3,000.
(7) A court may —
subsequent to an order of a police officer made under subsection (2); and
on the application of any person who is prevented from dealing with property,
order the release of such property or any part of such property.
(8) The court shall only order a release of property under subsection (7) if it is satisfied that —
such release is necessary for the payment of basic expenses, including any payment for foodstuff, rent, the discharge of a mortgage, medicine, medical treatment, taxes, insurance premiums and public utility charges;
such release is necessary exclusively for —
the payment of reasonable professional fees and the reimbursement of any expenses incurred in connection with the provision of legal services; or
the payment of fees or service charges imposed for the routine holding or maintenance of the property which the person is prevented from dealing in;
such release is necessary for the payment of any extraordinary expenses;
the property is the subject of any judicial, administrative or arbitral lien or judgment, in which case the property may be used to satisfy such lien or judgment, provided that the lien or judgment arose or was entered before the order was made under subsection (2)(b); or
such release is necessary, where the person is a company incorporated in Singapore, for any day-to-day operations of the company.
(9) In this section, property in respect of which an offence is suspected to have been committed and property which is suspected to have been used or intended to be used to commit an offence include —
such property as was originally in the possession or under the control of any person;
any property into or for which the property which was originally in the possession or under the control of any person has been converted or exchanged and anything acquired by such conversion or exchange, whether immediately or otherwise; and
if the property referred to in paragraph (a) or (b) is money kept in an account in a financial institution, any interest or other earnings on such account or any other payment which is credited into such account after the date —
on which the offence is suspected to have been committed; or
on which the property is suspected to have been used or intended to be used to commit an offence.