Singapore legislation
Clause 12
Clause 12
Amendment of Competition Act
The Competition Act (Cap. 50B, 2006 Ed.) is amended —
(a)
by inserting, immediately after subsection (5) of section 69, the following subsection:“(6) The Minister may, by order published in the Gazette, prescribe the interest payable on the outstanding amount of any financial penalty imposed under subsection (2)(d) and for payment by instalment (as may be directed by the Commission in its discretion) of any financial penalty imposed under subsection (2)(d).”; and
(b)
by inserting, immediately after paragraph (e) of section 72(15), the following paragraph:“(ea)permitting the Board to order interest to be paid on any financial penalty imposed, confirmed or varied by the Board;”.