Singapore legislation
Section 151
Section 151
Power of Authority to make regulations for this Part
(1)
The Authority may make regulations for the purposes of this Part, including regulations to prescribe anything which may be prescribed under this Part.
(2)
Without limiting subsection (1), regulations made under this section may —
prescribe the manner in which any application to be appointed as a primary dealer is to be made;
prescribe the duties and obligations of a primary dealer; and
provide that any contravention of any specified provision of the regulations shall be an offence punishable —
in the case of an individual, with a fine not exceeding $12,500 or with imprisonment for a term not exceeding 12 months or with both and, in the case of a continuing offence, with a further fine not exceeding $1,250 for every day or part of a day during which the offence continues after conviction; or
in any other case, with a fine not exceeding $25,000 and, in the case of a continuing offence, with a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.