Singapore legislation

Section 143

of Insurance Act 1966

Section 143

Penalties for corporations

Amended by23/200311/2013

(1)

Subject to subsection (2), where a corporation is convicted of an offence under this Act, the penalty that the court may impose is a fine not exceeding 2 times the maximum amount that the court could, but for this subsection, impose as a fine for that offence.

Amended by23/2003

(2)

Subsection (1) does not apply to any offence under this Act —

(a)

in respect of the breach of a duty imposed only on corporations; or

(b)

for which different penalties are prescribed in this Act (other than section 142(5)) for individuals and for other persons found guilty of the offence.

Amended by11/2013

(3)

Where an individual is convicted of an offence under this Act by virtue of section 142(4), the individual shall be liable to the fine or imprisonment or both as prescribed for that offence and subsection (1) does not apply.[55A

Section 143 — Insurance Act 1966 | laws.sg