Singapore legislation
Clause 20
Clause 20
New section 58A
The principal Act is amended by inserting, immediately after section 58, the following section:“Offences relating to investments58A.—
(1)
No person shall, directly or indirectly, in connection with the making of any investment under any scheme in accordance with any regulations made under section 77(1)(n) or the sale or disposal of any such investment —
(a)
employ any device, scheme or artifice to defraud; or
(b)
engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, upon any person.(2) Any person who contravenes subsection (1) shall be guilty of an offence.”.