Singapore legislation
Section 95A
Section 95A
Foreign co-operative societies
(1)
The Minister may make rules for or with respect to the registration or regulation of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof, and which carry on business in Singapore.
(2)
Without limiting subsection (1), the Minister may, in making rules under subsection (1) in respect of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof —
specify the circumstances under which such co-operative societies or any class thereof is or is not regarded as carrying on business in Singapore; and
specify the provisions of this Act that apply to the co‑operative societies and the modifications subject to which they apply.
(3)
The rules made under subsection (1) —
may provide that a contravention of any specified provision thereof shall be an offence; and
may provide for penalties not exceeding a fine of $10,000 for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of $500 for every day or part of a day during which the offence continues after conviction.