Singapore legislation

Clause 6

of Financial Institutions (Miscellaneous Amendments) Bill

Clause 6

Amendment of Government Securities Act

Section 29D of the Government Securities Act (Cap. 121A) is amended —

(a)

by inserting, immediately after subsection (3), the following subsection:“(3A) A financial penalty collected by the Authority under subsection (3) shall be paid into the Consolidated Fund.”; and

(b)

by deleting subsection (9) and substituting the following subsection:“(9) The Authority may recover on behalf of the Government any financial penalty ordered under subsection (3) as though the financial penalty were a civil debt due to the Authority.”.

Read in full context — Financial Institutions (Miscellaneous Amendments) Bill →