Singapore legislation
Clause 110
Clause 110
Amendment of section 236B
Section 236B of the principal Act is amended by deleting subsections (4) and (5) and substituting the following subsection:“(4) If the court in subsection (3) is satisfied on a balance of probabilities that the corporation is liable to be punished under subsection (1) for a contravention of any provision of this Part, the court may make an order against the corporation for the payment of a civil penalty of a sum not less than $100,000 but not exceeding the greater of the following:
3 times —
the amount of the profit that the corporation gained as a result of the contravention by the contravening person; or
the amount of the loss that the corporation avoided as a result of the contravention by the contravening person;
$2 million.”.