Clause 25

by inserting, immediately after the words “bank guarantee” in subsection (1)(ii), the words “but not in excess of the maximum amount specified in subsection (1A) if the licence is not cancelled”; and

by deleting subsection (2) and substituting the following subsections:“(2) A financial penalty cannot be imposed on a licensee if the sole ground for proceeding under subsection (1) is that, in the opinion of the Authority, the licensee is likely to fail to provide and maintain an adequate, safe and satisfactory service.(2A) A financial penalty imposed under subsection (1)(iii) on any licensee must be recovered and collected by the Authority for the purposes of the Public Transport Fund.(2B) The whole or part of any financial penalty recovered and collected under subsection (2A) from a licensee, and any interest on any financial penalty in arrears, must be paid into the Public Transport Fund established under the Public Transport Council Act (Cap. 259B).”.