Singapore legislation

Section 176

of Monetary Authority of Singapore Act 1970

Section 176

Composition of offences

Amended by13/20079/201331/20179/201313/20079/201313/20079/2013

(1)

The Authority may compound any offence under this Act that is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence.

Amended by13/20079/201331/2017

(1A)

The Authority may compound any offence under this Act (including an offence under a provision that has been repealed) which —

(a)

was compoundable under this section at the time the offence was committed; but(b)has ceased to be so compoundable,by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence at the time it was committed.

Amended by9/2013

(2)

On payment of the sum of money referred to in subsection (1) or (1A), no further proceedings are to be taken against that person in respect of the offence.

Amended by13/20079/2013

(3)

The Authority may make regulations to prescribe the offences which may be compounded.

Amended by13/2007

(4)

All sums collected by the Authority under subsection (1) or (1A) must be paid into the Consolidated Fund.

Amended by9/2013