Singapore legislation
Section 37
Section 37
Financial penalty and forfeiture of security deposit
(1)
This section applies where —
a licensee contravenes a provision of this Act, which contravention is not an offence;
the Registrar is satisfied that a licensee has conducted its business of pawnbroking in an improper or unsatisfactory manner; or
the Registrar is satisfied that a licensee is not able to carry on its business of pawnbroking in a proper and satisfactory manner.
(2)
On the occurrence of an event specified in subsection (1), the Registrar may, in addition to taking any action under section 36(2) —
order the licensee to pay a financial penalty of an amount not exceeding $20,000 for each occurrence of the event, up to a cumulative maximum of $100,000 at a time; and
if the licensee fails to pay any financial penalty ordered under paragraph (a), enforce the payment by forfeiting the whole or any part of the deposit placed by the licensee under section 27.