Offences committed by bodies corporate, etc.
66.—(1) Where an offence under this Act committed by a body corporate is proved —(a)
to have been committed with the consent or connivance of an officer; or
(b)
to be attributable to any act or default on the officer’s part,
the officer as well as the body corporate shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
(2) Where the affairs of a body corporate are managed by its members, subsection (1) applies in relation to the acts and defaults of a member in connection with the member’s functions of management as if the member were a director of the body corporate.
(3) Where an offence under this Act committed by a partnership is proved —(a)
to have been committed with the consent or connivance of a partner; or
(b)
to be attributable to any act or default on the partner’s part,
the partner as well as the partnership shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
(4) Where an offence under this Act committed by a limited liability partnership is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, a partner or manager of the limited liability partnership, the partner or manager (as the case may be) as well as the partnership shall be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
(5) Where an offence under this Act committed by an unincorporated association (other than a partnership) is proved —(a)
to have been committed with the consent or connivance of an officer of the unincorporated association or a member of its governing body; or
(b)
to be attributable to any act or default on the part of such an officer or a member,
the officer or member as well as the unincorporated association shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
(6) In this section —“body corporate” and “partnership” exclude a limited liability partnership within the meaning of the Limited Liability Partnerships Act 2005;
“officer” —(a)
in relation to a body corporate, means any director, member of the committee of management, chief executive officer, manager, secretary or other similar officer of the body corporate and includes any person purporting to act in any such capacity; and
(b)
in relation to an unincorporated association (other than a partnership), means the president, the secretary, or any member of the committee of the unincorporated association, or any person holding a position analogous to that of president, secretary or member of such a committee and includes any person purporting to act in any such capacity;
“partner” includes a person purporting to act as a partner.
(7) The Minister may make regulations to provide for the application of any provision of this section, with such modifications as the Minister considers appropriate, to any body corporate, limited liability partnership or unincorporated association formed or recognised under the law of a territory outside Singapore.
False statements regarding membership, insured deposits and insured policies
67.—(1) No person may, knowingly or recklessly, make a false or misleading statement as to whether or not —(a)
any person is a DI Scheme member;
(b)
any person is a PPF Scheme member;
(c)
any deposit or product is an insured deposit; or
(d)
any policy is an insured policy.
(2) Any person who contravenes subsection (1) shall, even though a contract does not come into being, be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part of a day during which the offence continues after conviction.
Offence by officer
68.—(1) Any officer of a full bank, finance company or relevant insurer who fails to take all reasonable steps to secure —(a)
compliance by the full bank, finance company or relevant insurer (as the case may be) with any provision of this Act; or
(b)
the accuracy and correctness of any statement submitted to the Authority, the Agency or such other person as may be required under this Act,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both.
(2) In any proceedings against a person under subsection (1), it is a defence for the person to prove that he or she had reasonable grounds for believing that another person was charged with the duty of securing compliance with the requirements of this Act, or with the duty of ensuring that those statements were accurate and correct (as the case may be) and that that person was competent, and in a position, to discharge that duty.
(3) A person shall not be sentenced to imprisonment for any offence under subsection (1) unless, in the opinion of the court, he or she committed the offence wilfully.
(4) Despite subsection (1), no officer shall be guilty of an offence where the contravention of any provision of this Act by a full bank, finance company or relevant insurer results in the imposition of only a financial penalty on the full bank, finance company or relevant insurer.
Duty not to provide false information to Authority or Agency
69.—(1) Any person who provides the Authority or the Agency with any information under or for the purposes of any provision of this Act must use due care to ensure that the information is not false or misleading in any material particular.
(2) Subsection (1) applies only to a requirement in relation to which no other provision of this Act creates an offence in connection with the provision of information that is false or misleading in a material particular.[31/2018]
(3) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both.
General penalty
70. Any person who is guilty of an offence under this Act for which no penalty is expressly provided shall be liable on conviction to a fine not exceeding $50,000 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.
Penalty for corporation
71.—(1) Subject to subsections (2) and (3), where a corporation or body corporate is convicted of an offence under this Act, the penalty that the court may impose is a fine not exceeding 2 times the maximum amount that the court could, but for this subsection, impose as a fine for that offence.
(2) Subsection (1) does not apply to —(a)
offences under sections 6(8) and 32(8); and
(b)
offences under the subsidiary legislation made under this Act where it is expressly provided in the subsidiary legislation that subsection (1) does not apply to those offences.
(3) Where an individual is convicted of an offence under this Act by virtue of section 66, the individual shall be liable to the fine or imprisonment or both as prescribed for that offence and subsection (1) does not apply.
Jurisdiction of court
72. Despite any provision to the contrary in the Criminal Procedure Code 2010, a District Court has jurisdiction to try any offence under this Act and has power to impose the full penalty or punishment in respect of the offence.
Composition of offences
73.—(1) The Authority may compound any offence under this Act that is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine that is prescribed for the offence.
(2) On payment of the sum of money, no further proceedings may be taken against that person in respect of the offence.
(3) The Authority may make regulations to prescribe the offences which may be compounded.
(4) All sums collected under this section must be paid into the Consolidated Fund.[31/2018]
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
