Singapore legislation
Regulation 24
Regulation 24
Acceptance of composition of offence
Subregulation 1
The Authority may compound an offence under section 111 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.
Subregulation 2
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.
Subregulation 3
In paragraph (2), “officer” —
in relation to a body corporate, means any director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body corporate; and
in relation to an unincorporated association (other than a partnership), means the president, the secretary, any member of the committee of the association or any person holding a position analogous to that of president, secretary or member of a committee.