In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Payment and Settlement Systems (Finality and Netting) Act 2002 · 2020 Revised Edition · Part 4 · Miscellaneous
17. Composition of offences
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Last amended by an amending law of 2018.
(1)
The Authority may compound any offence under this Act that is prescribed as a compoundable offence by collecting from any person reasonably suspected of having committed the offence a sum of money not exceeding half of the amount of the maximum fine prescribed for that 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 Authority may make regulations to prescribe the offences which may be compounded.
(4)
All sums collected under this section must be paid into the Consolidated Fund.