Singapore legislation

Clause 44

of Deposit Insurance Bill

Clause 44

Penalty for corporation

(1)

Subject to subsections (2) and (3), where a corporation or body corporate is convicted of an offence under this Act, the penalty that the court may impose is a fine not exceeding 2 times the maximum amount that the court could, but for this subsection, impose as a fine for that offence.

(2)

Subsection (1) shall not apply to —

(a)

an offence under section 6(8); and

(b)

offences under the subsidiary legislation made under this Act where it is expressly provided in the subsidiary legislation that subsection (1) shall not apply to those offences.

(3)

Where an individual is convicted of an offence under this Act by virtue of section 39, he shall be liable to the fine or imprisonment or both as prescribed for that offence and subsection (1) shall not apply.

Clause 44 — Deposit Insurance Bill | laws.sg