In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Trust Companies Act 2005 · 2020 Revised Edition · Part 2 · Licensing of Trust Companies
8. False statements in relation to application for grant of licence
Feedback & supportAny person who, in connection with an application for a trust business licence and without reasonable excuse —
trust business licence
Defined · s 2
“trust business licence” means a licence granted by the Authority under section 5 that authorises the holder of the licence to carry on trust business;
(a)
makes any statement which is false or misleading in a material particular; or
(b)
omits to state any matter or thing without which the application is misleading in a material respect,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both.