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← Banking Act 1970

Banking Act 1970 s 57B

s 57B Requirements for grant of licence

57B.—(1) The Authority may grant a licence subject to such conditions or restrictions as it thinks fit, or refuse to grant a licence. (2) The Authority may at any time add to, vary or revoke any condition or restriction of a licence. (3) Any licensee who contravenes any condition or restriction imposed by the Authority under this section shall be guilty of an offence and shall be liable on conviction 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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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

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

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