Singapore legislation
Section 16Q
Section 16Q
Regulations
(1)
The Minister may make regulations for the carrying out of this Part and, without limiting such general power, may make regulations for the following purposes:
the registration, licensing or accreditation of providers of an electronic transferable records management system;
the accreditation of electronic transferable records management systems that satisfy the requirements of providing a reliable method under section 16O for the fulfilment of the requirements in relation to an electronic transferable record under this Part;
to prescribe the accounts to be kept by a provider of an electronic transferable records management system that is registered, licensed or accredited under this Part;
to provide for the appointment and remuneration of an auditor for the audit of a provider of an electronic transferable records management system that is registered, licensed or accredited under this Part, and for the costs of an audit carried out under the regulations;
to provide for the use of any accreditation mark in relation to the activities of a provider of an electronic transferable records management system in relation to such system, and for controls over the use of such accreditation mark;
to prescribe the duties and liabilities of a provider of an electronic transferable records management system that is registered, licensed or accredited under this Part in respect of its customers;
to provide for the conduct of any inquiry into the conduct of any provider of an electronic transferable records management system and its authorised representatives and the recovery of the costs and expenses involved in such an inquiry;
to prescribe the forms and fees applicable for the purposes of this Part.
(2)
Without limiting subsection (1), the Minister may make regulations to provide for the cross‑border recognition of a provider of an electronic transferable records management system that is incorporated, formed or established in a country or territory outside Singapore (called in this section a foreign provider) where the foreign provider —
is registered, licensed or accredited under a particular registration, licensing or accreditation scheme (as the case may be) established outside Singapore; and
carries on its business relating to the electronic transferable records management system in accordance with requirements that are at least equivalent or comparable to the requirements applicable to a provider of an electronic transferable records management system that is or would be registered, licensed or accredited under this Part.
(3)
Regulations made under this section may provide that a contravention of a specified provision shall be an offence and shall be punishable with a fine not exceeding $50,000 or with imprisonment for a term not exceeding 12 months or with both.