Singapore legislation

Section 236K

of Securities and Futures Act 2001

Section 236K

Civil liability in event of conviction or civil penalty

Amended by2/20092/20092/2009

(1)

Despite section 236D, 236G or 236I, where a defendant corporation, defendant partnership (including, in the case of a partnership, any of the partners) or defendant —

(a)

has been convicted of an offence under this Division; or

(b)

has had an order for the payment of civil penalty made against it, him or her under this Division, other than by way of a default judgment or a consent order made with or without admission of contravention,and has gained a profit or avoided a loss as a result of the contravention by the contravening person referred to in section 236B(1), 236C(1), 236E(1), 236F(1) or 236H(1) (as the case may be) the court which convicted or made the order for a civil penalty against the defendant corporation, defendant partnership (or any of the partners thereof) or defendant may, after the conviction or the order imposing the civil penalty has been made final, fix a date on or before which all claimants have to file and prove their claims against the defendant corporation, defendant partnership or defendant (as the case may be) for compensation in respect of that contravention.

Amended by2/2009

(2)

Section 236(2) to (5) applies, with the necessary modifications, to an action under subsection (1), and in such application —

(a)

any reference to the contravening person is to be read as the defendant corporation, the defendant partnership or the defendant in subsection (1); and

(b)

the reference to an action under section 234 is to be read as an action under section 236D (in relation to the defendant corporation), 236G (in relation to the defendant partnership) or 236I (in relation to the defendant), as the case may be.

Amended by2/2009

(3)

In this section, “claimant” means any person who would qualify as a claimant to bring an action against the defendant corporation, defendant partnership or defendant under section 236D, 236G or 236I, as the case may be.

Amended by2/2009