Corporate Service Providers Act 2024 · Updated to 9 Jun 2025 · Part 7 · General
28. Interest for non‑payment and recovery of financial penalty
Official textFrom Singapore Statutes Online, unchanged
A registered corporate service provider or registered qualified individual (X) who fails to pay any amount of a financial penalty imposed under section 19(2) or 21(2) (as the case may be) within the period specified for payment by the Registrar or, where there is an appeal to the Minister under section 23, within any period specified for payment by the Minister, is liable to pay interest at the same rate as for a judgment debt on the unpaid amount.
registered corporate service provider
“registered corporate service provider” means a corporate service provider who is registered under this Act, and includes —(a)a deemed registered corporate service provider; and(b)a person who is treated under section 42(3) as registered under section 8 as a registered corporate service provider;
X’s liability to pay a financial penalty and any interest on the financial penalty is not affected by X ceasing to be a registered corporate service provider or registered qualified individual.
registered qualified individual
“registered qualified individual” means a qualified individual who is registered under this Act, and includes —(a)a deemed registered qualified individual; and(b)a person who is treated under section 44(1) as registered under section 10 as a registered qualified individual;
In any proceeding for the recovery of any financial penalty under this Part —
a certificate purporting to be under the hand of the Registrar certifying the amount of the financial penalty that is imposed, and the period specified for payment; or
where there is an appeal to the Minister under section 23, a certificate purporting to be under the hand of the Minister certifying the amount of financial penalty that is imposed, and the period specified for payment,is prima facie evidence of the facts stated in the certificate.
The Minister, or an officer authorised by the Minister, may waive, remit or refund in whole or in part any financial penalty imposed or interest on the penalty.
Terms defined in s 2
registered corporate service provider
Defined · s 2“registered corporate service provider” means a corporate service provider who is registered under this Act, and includes —(a)a deemed registered corporate service provider; and(b)a person who is treated under section 42(3) as registered under section 8 as a registered corporate service provider;
registered qualified individual
Defined · s 2“registered qualified individual” means a qualified individual who is registered under this Act, and includes —(a)a deemed registered qualified individual; and(b)a person who is treated under section 44(1) as registered under section 10 as a registered qualified individual;
Registrar
Defined · s 2“Registrar” means the Registrar of Corporate Service Providers appointed under section 5(2)(a), and includes any Deputy Registrar or Assistant Registrar;
Part 8
Consequential and Related Amendments to Other Acts
Part 9