Clause 51

The Minister may make rules for or with respect to the registration or regulation of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof, and which carry on business in Singapore.(2) Without prejudice to the generality of subsection (1), the Minister may, in making rules under subsection (1) in respect of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof —

specify the circumstances under which such co-operative societies or any class thereof shall or shall not be regarded as carrying on business in Singapore; and

specify the provisions of this Act that apply to the co-operative societies and the modifications subject to which they apply.(3) The rules made under subsection (1) —

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

may provide for penalties not exceeding a fine of $10,000 for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of $500 for every day or part thereof during which the offence continues after conviction.”.