Singapore legislation

Clause 2

of Moneylenders (Amendment) Bill

Clause 2

Amendment of section 8

Section 8 of the Moneylenders Act is amended —

(a)

by deleting all the words in the sixteenth to the twenty-first lines and substituting the following words:“conviction to a fine of not less than $10,000 and not more than $100,000 and for a second or subsequent offence to a fine of not less than $20,000 and not more than $200,000 or to imprisonment for a term not exceeding 12 months or to both, and an offender being a company shall be liable to a fine of not less than $20,000 and not more than $200,000:”; and

(b)

by renumbering the section as subsection (1) of that section, and by inserting immediately thereafter the following subsection:“(2) Every offence under this section and section 33 shall be deemed to be a seizable and non-bailable offence within the meaning of the Criminal Procedure Code [Cap. 68].”.

Clause 2 — Moneylenders (Amendment) Bill | laws.sg