Singapore legislation

Clause 89

of Securities and Futures (Amendment) Bill

Clause 89

Amendment of section 336

Section 336 of the principal Act is amended —

(a)

by inserting, immediately after the words “not exceeding” in subsection (2), the words “one half of the amount of”; and

(b)

by inserting, immediately after subsection (2), the following subsections:“(3) The Authority may, in its discretion, compound any offence under this Act (including an offence under a provision that has been repealed) which —

(a)

was compoundable under this section at the time the offence was committed; but(b)has ceased to be so compoundable,by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence at the time it was committed.(4) All sums collected by the Authority under subsection (2) or (3) shall be paid into the Consolidated Fund.”.

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