Singapore legislation
Section 110B
Section 110B
Supervision and control of international market agents and international market agent representatives
(1)
An application to be licensed as an international market agent or an international market agent representative must be made in the form and manner prescribed and must be accompanied by —
such fee as may be prescribed; and
such documents and information as may be prescribed.
(2)
The Authority may grant an international market agent licence or international market agent representative licence if, and only if, it is satisfied that the criteria specified in the regulations made under this section are met.
(3)
The Authority may give a written direction to a casino operator or a licensed international market agent, or to both, that relates to the organisation or conduct of a casino marketing arrangement, including a direction as to the maximum commission or other payment which may be paid by any casino operator to a licensed international market agent for organising or conducting the casino marketing arrangement.
(4)
Any casino operator or licensed international market agent which or who fails to comply with any direction under subsection (3) shall be liable to disciplinary action.
(5)
The Authority may, with the approval of the Minister, make regulations for or with respect to —
regulating or prohibiting the organisation and conduct of casino marketing arrangements;
the licensing of international market agents and international market agent representatives;
the obligations of licensed international market agents in relation to patrons participating in a casino marketing arrangement; and
the obligations of casino operators in relation to international market agents and patrons participating in a casino marketing arrangement.
(6)
Without limiting subsection (5), the regulations may —
impose restrictions on who may be eligible to organise or conduct a casino marketing arrangement;
prescribe the procedure for the application for any licence;
prescribe the fees to be charged;
require the international market agent or the casino operator concerned to give the Authority advance notice of a casino marketing arrangement and to furnish to the Authority detailed information concerning the conduct of and the arrangements for any casino marketing arrangement;
require any contract or other agreement that relates to the organisation or conduct of a casino marketing arrangement to be in a form, and to contain provisions, approved by the Authority;
require the international market agent or the casino operator concerned to give specified information concerning a casino marketing arrangement to patrons participating in the casino marketing arrangement;
require the international market agent or the casino operator concerned to give the Authority advance notice of, and such specified information as the Authority may require about, any casino marketing arrangement, including the patrons participating in the casino marketing arrangement;
require the international market agent to establish and implement a system of internal controls in accordance with prescribed requirements;
prescribe anti-money-laundering requirements;
regulate the conduct of licensed international market agents and licensed international market agent representatives and provide for disciplinary action against them, including a financial penalty not exceeding —
$400,000 against any licensed international market agent; and
$10,000 against any licensed international market agent representative; and
provide that any contravention of any provision of the regulations shall be an offence punishable with a fine not exceeding $100,000 or with imprisonment for a term not exceeding 12 months or with both.