Singapore legislation
Section 20
of Payment and Settlement Systems (Finality and Netting) Act 2002
Section 20
Power to make regulations
Amended by4/20184/2018
(1)
The Authority may make any regulations that may be necessary or expedient for carrying out the purposes and provisions of this Act and for prescribing anything that may be required or authorised to be prescribed by this Act.
(2)
Without limiting subsection (1), the Authority may make regulations for the purpose of ensuring the integrity of, and the fair and orderly conduct of, designated systems.
Amended by4/2018
(3)
Regulations made under this section may provide —
(a)
that a contravention of any provision of those regulations shall be an offence; and
(b)
for a penalty not exceeding a fine of $150,000 for each offence.
Amended by4/2018