Singapore legislation

Section 60N

of Stamp Duties Act 1929

Section 60N

Fines on umbrella VCC considered liability of its sub‑funds in certain cases

Amended by28/2019

Any fine imposed on an umbrella VCC, and any composition sum that may be paid by it, for an offence under this Act that is committed —

(a)

in respect of any instrument executed for the purpose of a sub‑fund; or

(b)

in respect of any information, or other matter relating to a sub‑fund,are considered (for the purpose of section 29 of the VCC Act) liability incurred by the umbrella VCC for the purpose of the sub‑fund.

Read in full context — Stamp Duties Act 1929 →