Singapore legislation

Clause 33

of Securities Industry (Amendment) Bill

Clause 33

Amendment of section 95

Section 95 of the principal Act is hereby amended —

(a)

by inserting immediately after the expression “95.” appearing in the first line thereof the expression “—

(1)

”; and

(b)

by inserting immediately after subsection (1) thereof the following subsection: —“(2) The Registrar may, without instituting proceedings against any person for an offence under this Act or the regulations made thereunder which is punishable only by a fine, demand and receive the amount of such fine or such reduced amount as he thinks fit from such person, whereupon —

(a)

if such person pays such amount to the Registrar within fourteen days after the demand no proceedings shall be taken against him in relation to the offence;

(b)

if such person does not pay the amount so demanded, the Registrar may cause proceedings to be instituted in relation to the offence.”.

Read in full context — Securities Industry (Amendment) Bill →