Singapore legislation

Clause 16

of Finance Companies (Amendment) Bill

Clause 16

Amendment of section 57

Section 57 of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(3) Such regulations may provide that a contravention of any provision thereof shall be an offence and shall be punishable with a fine not exceeding $5,000 or with imprisonment for a term not exceeding one year or with both as may be specified in the regulations.”.

Clause 16 — Finance Companies (Amendment) Bill | laws.sg