Singapore legislation
Clause 13
Clause 13
Obligation of operator to submit periodic reports
(1)
An operator of a designated payment system shall submit to the Authority such reports in such form, manner and frequency as the Authority may prescribe.
(2)
Any operator of a designated payment system who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 and, in the case of a continuing offence, to a further fine not exceeding $20,000 for every day or part thereof during which the offence continues after conviction.