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In forceAs enacted

Subsidiary Legislation

Deposit Insurance and Policy Owners’ Protection Schemes (Deposit Insurance) (Composition of Offences) Regulations 2011

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reg 1Citation and commencement

These Regulations may be cited as the Deposit Insurance and Policy Owners’ Protection Schemes (Deposit Insurance) (Composition of Offences) Regulations 2011 and shall come into operation on 1st May 2011.

reg 2Compoundable offences

The following offences may be compounded in accordance with section 73 of the Act by the Authority:

(a)

an offence under the Act which is punishable with a fine only;

(b)

an offence under section 20, 45, 68(1)(b) or 69 of the Act;

(c)

an offence under subsection (1)(a) of section 68 of the Act, where the non-compliance referred to in that subsection constitutes a compoundable offence under paragraph (a) or (b); and

(d)

an offence under regulation 11(8), 12(7), 13(3) or 14(5) of the Deposit Insurance and Policy Owners’ Protection Schemes (Deposit Insurance) Regulations 2011 (G.N. No. S 239/2011).