Singapore legislation

Section 134

of Securities and Futures Act 2001

Section 134

Penalties under this Subdivision

Amended by2/20092/20092/2009

(1)

Any director or chief executive officer of a corporation who —

(a)

intentionally or recklessly contravenes section 133(1)(a)(i), (b)(i), (c)(i), (d)(i) or (f), or section 133(1)(g) in respect of a change in the particulars of any matter referred to in section 133(1)(a)(i), (b)(i), (c)(i), (d)(i) and (f);

(b)

intentionally or recklessly contravenes section 133(3) in respect of a notice of the particulars of any matter referred to in section 133(1)(a)(i), (b)(i), (c)(i), (d)(i) and (f) or of a change in any of those particulars; or

(c)

in purported compliance with section 133(1)(a)(i), (b)(i), (c)(i), (d)(i) or (f), or section 133(1)(g) in respect of a change in the particulars of any matter referred to in section 133(1)(a)(i), (b)(i), (c)(i), (d)(i) and (f), provides any information which he or she knows is false or misleading in a material particular or is reckless as to whether it is,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 or to imprisonment for a term not exceeding 2 years or to both 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.

Amended by2/2009

(2)

Any director or chief executive officer of a corporation who —

(a)

contravenes section 133(1) or (3); or

(b)

in purported compliance with section 133, provides any information which is false or misleading in a material particular,in circumstances other than as set out in subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.

Amended by2/2009

(3)

No proceedings shall be instituted against a person for an offence under this section after ––

(a)

a court has made an order against the person for the payment of a civil penalty under section 137ZD in respect of the same contravention; or

(b)

the person has entered into an agreement with the Authority to pay, with or without admission of liability, a civil penalty under section 137ZD(4), in respect of the same contravention.

Amended by2/2009
Section 134 — Securities and Futures Act 2001 | laws.sg