Singapore legislation

Section 267

of Insolvency, Restructuring and Dissolution Act 2018

Section 267

Default penalties

(1)

Where a default penalty is provided in any section of Parts 4 to 11, any person who is convicted of an offence under Parts 4 to 11 or who has been dealt with under section 271 for an offence under Parts 4 to 11 in relation to that section shall be guilty of a further offence under this Act if the offence continues after the person is so convicted or after the person has been so dealt with and liable to an additional penalty for each day during which the offence so continues of not more than the amount expressed in the section as the amount of the default penalty or, if an amount is not so expressed, of not more than $200.

(2)

Where any offence is committed by a person by reason of the person’s failure to comply with any provision of Parts 4 to 11 under which the person is required or directed to do anything within a particular period, that offence, for the purposes of subsection (1), is deemed to continue so long as the thing so required or directed to be done by him or her remains undone, despite such period having elapsed.

(3)

For the purposes of any provision of Parts 4 to 11 which provides that an officer of a company or corporation who is in default is guilty of an offence under Parts 4 to 11 or is liable to a penalty or punishment, the phrase “officer who defaults” or any like phrase means any officer of the company or corporation who knowingly and wilfully —

(a)

is guilty of the offence; or

(b)

authorises or permits the commission of the offence.