Singapore legislation
Clause 33
Clause 33
Amendment of section 35K
Section 35K of the Insurance Act is amended —
by deleting the words “and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $3,000 for every day or part thereof during which the offence continues after conviction”; and
by renumbering the section as subsection (1) of that section, and by inserting immediately thereafter the following subsection:“(2) Any person who is guilty of an offence under subsection (1) shall be liable on conviction —
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction; or
in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.”.