Singapore legislation

Clause 23

of Securities and Futures (Amendment) Bill

Clause 23

Amendment of section 53

Section 53 of the principal Act is amended by deleting subsection (2) and substituting the following subsection:“(2) Regulations made under this section may provide —

(a)

that a contravention of any specified provision thereof shall be an offence; and

(b)

for penalties not exceeding a fine of $200,000 or imprisonment for a term not exceeding 12 months or both for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of 10% of the maximum fine prescribed for that offence for every day or part thereof during which the offence continues after conviction.”.

Read in full context — Securities and Futures (Amendment) Bill →