Singapore legislation
Clause 17
of Payment and Settlement Systems (Finality and Netting) (Amendment) Bill
Clause 17
Amendment of section 17
Section 17 of the principal Act is amended —
(a)
by deleting the words “a sum not exceeding $10,000” in subsection (1) and substituting the words “a sum of money not exceeding half of the amount of the maximum fine prescribed for that offence”; and
(b)
by deleting the words “shall be paid to the Authority” in subsection (4) and substituting the words “must be paid into the Consolidated Fund”.