Singapore legislation
Clause 49
Clause 49
Obligation of operator to submit periodic reports
(1)
An operator of a designated payment system must submit to the Authority such reports or returns in the form, manner and frequency prescribed.
(2)
A person that contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.