Singapore legislation
Clause 90
Clause 90
Court may make certain orders
(1)
Where, on the application of the Registrar, it appears to the High Court that a person has contravened this Act or any conditions of a licence he holds or is about to do an act with respect to dealing or trading in securities that, if done, would be such a contravention, the Court may, without prejudice to any orders it would be entitled to make otherwise than pursuant to this section, make one or more of the following orders: —
in the case of persistent or continuing breaches of this Act or of the conditions of a licence he holds, an order restraining a person from carrying on a business as a dealer in securities, or as a dealer’s representative or from holding himself out as so carrying on business or acting;
an order restraining a person from acquiring, disposing of or otherwise dealing with any securities specified in the order;
an order appointing a receiver of the property of a dealer;
an order declaring a contract relating to securities to be void or voidable;
for the purpose of securing compliance with any other order under this section, an order directing a person to do or refrain from doing a specified act; or
any ancillary order deemed to be desirable in consequence of the making of an order under paragraph (a), (b), (c), (d) or (e).
(2)
The Court shall, before making an order under subsection (1), satisfy itself, so far as it can reasonably do so, that the order would not unfairly prejudice any person.
(3)
The Court may, before making an order under subsection (1), direct that notice of the application be given to such persons as it thinks fit or direct that notice of the application be published in such manner as it thinks fit, or both.
(4)
Any person who contravenes or fails to comply with an order under subsection (1) that is applicable to him shall be guilty of an offence under this Act and shall be liable on conviction to a fine of three thousand dollars or to imprisonment for a term not exceeding one year or to both such fine and imprisonment.
(5)
Subsection (4) does not affect the powers of the Court in relation to the punishment of contempts of the Court.
(6)
The Court may rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.