Singapore legislation
Section 18
Section 18
Holding out as approved person
(1)
Where any person holds himself, herself or itself out to be an approved person when the person is not an approved person, the person shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 12 months or to both.
(2)
[Deleted by Act 28 of 2008]
(3)
Where the person mentioned in subsection (1) is a partnership, every partner, other than a partner who is proved to have been ignorant of or attempted to prevent the commission of the offence, shall be guilty of the offence under subsection (1) and liable to be proceeded against and punished accordingly.