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← Banking Act 1970

Banking Act 1970 s 4C

s 4C Examination of persons suspected of contravening section 4A and access to premises

4C.—(1) Whenever the Authority has reason to believe that a person has contravened or is contravening section 4A(1) or (2), the Authority, at all times —(a) has full and free access to the premises at which that person is suspected of having committed or of committing the contravention, or at which that person may have books; and (b) has the power to examine, copy or take possession of the books of that person in order to ascertain whether or not that person has contravened or is contravening section 4A(1) or (2). (2) Any person who obstructs the Authority in the exercise of its powers under subsection (1) or, without reasonable excuse, fails to provide such books in the person’s possession as may be required by the Authority, shall be guilty of an offence and shall be liable on conviction —(a) in the case of an individual, to a fine not exceeding $12,500 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $1,250 for every day or part of a day during which the offence continues after conviction; or (b) in any other case, to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.

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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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