Singapore legislation

Clause 6

of Securities and Futures (Amendment) Bill

Clause 6

Amendment of section 7

Section 7 of the principal Act is amended by deleting subsection (4) and substituting the following subsection:“(4) 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.”.