3. Acceptance of composition of offence

The Authority may compound an offence under section 336(2) of the Act only if the person reasonably suspected of having committed the offence —

accepts the offer of composition made by the Authority in writing in the form set out on the Authority’s website at http://www.mas.gov.sg; and

pays the composition sum to the Authority,within 14 days after the offer of composition is made or such longer period as the Authority may specify.

Where the person referred to in paragraph (1) is not an individual, the acceptance of composition shall be made —

in the case of a body corporate, by an officer of that body corporate;

in the case of a partnership, by a partner of that partnership; or

in the case of an unincorporated association (other than a partnership), by an officer of that association or a member of its governing body.

For the purposes of paragraph (2), “officer” —

in relation to a body corporate, means a director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body; or (b)in relation to an unincorporated association (other than a partnership), means the president, the secretary or any member of the committee of the association and includes persons holding positions analogous to those of president, secretary or member of a committee.

The Authority may compound an offence under section 336(2) of the Act only if the person reasonably suspected of having committed the offence —

accepts the offer of composition made by the Authority in writing in the form set out on the Authority’s website at http://www.mas.gov.sg; and

pays the composition sum to the Authority,within 14 days after the offer of composition is made or such longer period as the Authority may specify.

Where the person referred to in paragraph (1) is not an individual, the acceptance of composition shall be made —

in the case of a body corporate, by an officer of that body corporate;

in the case of a partnership, by a partner of that partnership; or

in the case of an unincorporated association (other than a partnership), by an officer of that association or a member of its governing body.

For the purposes of paragraph (2), “officer” —

in relation to a body corporate, means a director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body; or (b)in relation to an unincorporated association (other than a partnership), means the president, the secretary or any member of the committee of the association and includes persons holding positions analogous to those of president, secretary or member of a committee.