Section 4A

to make any deposit, whether in Singapore or elsewhere; or

to enter or offer to enter into any agreement to make any deposit, whether in Singapore or elsewhere,where such deposit is to be made with any person (not being a person specified in subsection (6)) in the course of the carrying on (whether in Singapore or elsewhere) of a deposit‑taking business by that person.

in the case of an individual, to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part of a day during which the offence continues after conviction; or

in any other case, to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.

the person received the advertisement for publication in the ordinary course of the person’s business;

the matters contained in the advertisement were not, wholly or in part, devised or selected by the person or by any other person under the person’s direction or control; and

the person did not know and had no reason for believing that the publication of the advertisement would constitute an offence.

any bank in Singapore;

any co-operative society registered as a credit society under the Co‑operative Societies Act 1979;

any finance company licensed under the Finance Companies Act 1967;

any merchant bank;

any person (other than a person mentioned in paragraphs (a) to (d)) who is licensed, approved, authorised or otherwise empowered under any written law to accept deposits in Singapore in accordance with such law; and

such other person or class of persons as the Authority may prescribe and subject to such conditions as may be prescribed by the Authority.