Singapore legislation
Clause 19
Clause 19
Security deposit
(1)
The Director may, upon granting a licence, require a licensee to give a performance bond, guarantee or other form of security on the terms and conditions and of the amount that the Director considers appropriate —
(a)
to ensure that the provisions of this Act and the conditions of the licence will be duly observed; and
(b)
to meet any financial penalty arising out of any proceedings under section 20 against the licensee.
(2)
If a licensee fails to pay any financial penalty ordered under section 20, the Director may enforce the payment by forfeiting the whole or any part of any security deposit placed by the licensee under this section.