Singapore legislation
Clause 16
of Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill
Clause 16
New section 9A
In the Sale of Commercial Properties Act, after section 9, insert —“Composition of offences9A.—
The Controller may compound any offence under this Act or any rules made under this Act which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum not exceeding one half of the amount of the maximum fine that is prescribed for the offence.(2) On payment of the sum of money, no further proceedings may be taken against that person in respect of the offence.(3) The Minister may make rules to prescribe the offences which may be compounded.(4) All sums collected under this section must be paid to the Consolidated Fund.”.