Payment Services Act 2019 · 2020 Revised Edition · Part 7 · Offences
96. Composition of offences
Feedback & supportThe Authority may compound any offence under this Act that is prescribed as a compoundable offence by collecting from a 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.
The Authority may compound any offence under this Act (including an offence under a provision that has been repealed) that —
was compoundable under this section when the offence was committed; but(b)has ceased to be so compoundable,by collecting from a 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 at the time it was committed.
Despite the repeal of the Money‑changing and Remittance Businesses Act (Cap. 187, 2008 Revised Edition), the Authority may compound any offence under that Act (including an offence under a provision that has been repealed) that —
money
“money” includes e‑money but excludes any digital payment token and any excluded digital representation of value;
was compoundable under section 29 of that Act when the offence was committed; but(b)has ceased to be so compoundable,by collecting from a 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 at the time it was committed.
Despite the repeal of the Payment Systems (Oversight) Act (Cap. 222A, 2007 Revised Edition), the Authority may compound any offence under that Act (including an offence under a provision that has been repealed) that —
was compoundable under section 50 of that Act when the offence was committed; but(b)has ceased to be so compoundable,by collecting from a 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 at the time it was committed.
On payment of the sum of money mentioned in subsection (1), (2), (3) or (4), no further proceedings may be taken against that person in respect of the offence.
All sums collected by the Authority under subsection (1), (2), (3) or (4) must be paid into the Consolidated Fund.