Singapore legislation
Regulation 18J
Regulation 18J
Offences
Subregulation 1
A licensee that contravenes regulation 18B(1) or (2), 18C(1)(a), (b) or (d) or 18G shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.
Subregulation 2
A licensee that contravenes regulation 18B(3)(a), 18C(1)(c) or 18D(a), (b), (c) or (d) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000.
Subregulation 3
A licensee that contravenes regulation 18F(1), (2) or (3) shall be guilty of an offence and shall be liable on conviction —
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction; and
in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.
Subregulation 4
A licensee that contravenes regulation 18D(e), 18E or 18H(1) or (2) shall be guilty of an offence and shall be liable on conviction —
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; and
in any other case, to a fine not exceeding $100,000.
Subregulation 5
To avoid doubt, the references in paragraphs (1), (2), (3) and (4) to a licensee do not include a reference to an exempt payment service provider.