Singapore legislation

Regulation 35

of Payment Services Regulations 2019

Regulation 35

Offences

Subregulation 1

Any person that contravenes regulation 9(2) or (3), 14(1), 15(1), 16(1), 22(1), 25(1), (2), (3) or (4), 26(8) or 28(6) shall be guilty of an offence.

Subregulation 2

A person guilty of an offence under paragraph (1) shall be liable on conviction —

(a)

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

(b)

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.