Singapore legislation
Clause 12
of Money-changing and Remittance Businesses (Amendment) Bill
Clause 12
New section 18A
The principal Act is amended by inserting, immediately after section 18, the following section:“Composition of offences18A.—
(1)
The Authority may, in its discretion, compound any offence under this Act or any regulations made thereunder by collecting from a person reasonably suspected of having committed the offence a sum not exceeding $1,000.(2) On payment of such sum of money, no further proceedings shall be taken against that person in respect of the offence.(3) All sums collected under this section shall be paid to the Authority.”.