Singapore legislation

Section 44

of Accounting and Corporate Regulatory Authority Act 2004

Section 44

Composition of offences

Amended by18/2014

(1)

The Chief Executive or any officer of the Authority who is authorised by the Chief Executive may compound any offence under this Act which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum not exceeding the lower of the following:

(a)

one half of the amount of the maximum fine that is prescribed for the offence;

(b)

$5,000.

Amended by18/2014

(2)

On payment of the sum of money, no further proceedings are to be taken against that person in respect of the offence.[36