Singapore legislation
Clause 22
of Payment and Settlement Systems (Finality and Netting) (Amendment) Bill
Clause 22
Amendment of section 20
Section 20 of the principal Act is amended by deleting subsection (2) and substituting the following subsections:“(2) Without prejudice to the generality of subsection (1), the Authority may make regulations for the purpose of ensuring the integrity of, and the fair and orderly conduct of, designated systems.(3) Regulations made under this section may provide —
(a)
that a contravention of any provision of those regulations shall be an offence; and
(b)
for a penalty not exceeding a fine of $150,000 for each offence.”.