Singapore legislation

Section 117

of Financial Advisers Act 2001

Section 117

Composition of offences

Amended by35/201235/201235/2012

(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 by35/2012

(2)

The Authority may compound any offence under this Act (including an offence under a provision that has been repealed) which —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 not exceeding one half of the amount of the maximum fine prescribed for that offence at the time it was committed.

Amended by35/2012

(3)

All sums collected by the Authority under subsection (1) or (2) must be paid into the Consolidated Fund.[89

Amended by35/2012