Singapore legislation
Section 29
Section 29
Provision of information to Authority
(1)
The Authority may, by notice in the form and manner prescribed, require any holder of a stored value facility to provide to the Authority, within a reasonable period specified in the notice, all such information relating to the stored value facility as may be required by the Authority.
(2)
Without prejudice to the generality of subsection (1), the Authority may in a notice issued under that subsection, require any holder to provide, whether in the form of a return to be provided on a periodic basis or otherwise —
information relating to the amount of money received for the stored value facility;
information relating to the number of users of the stored value facility; and
such other information as the Authority may require for the purposes of this Act.
(3)
Subject to subsection (5), any holder to whom a notice is issued under subsection (1) shall comply with the notice.
(4)
Any holder who fails to comply with a notice issued under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 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 $10,000 for every day or part thereof during which the offence continues after conviction.
(5)
A holder to whom a notice is issued under subsection (1) shall not be obliged to disclose any information where he is prohibited by any written law from disclosing such information.