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← Commodity Trading Act 1992

Commodity Trading Act 1992 s 58

s 58 Proceedings by whom and when to be taken and power to compound offences

58.—(1) Proceedings for an offence —(a) against any provision in Part 7 may be taken only with the consent of the Public Prosecutor; and (b) against any other provision of this Act may be taken by the Board or, with the consent of the Public Prosecutor, by any other person.[15/2010] (2) The Board may, without instituting proceedings against any person for an offence under this Act or any regulations made under this Act, which is punishable only by a fine, demand and receive the amount of such fine or such reduced amount as it thinks fit, from the person, whereupon —(a) if the person pays that amount to the Board within 14 days after the demand, no proceedings may be taken against the person in relation to the offence; (b) if the person does not pay the amount so demanded, the Board may cause proceedings to be instituted in relation to the offence. (3) The powers conferred upon the Board under subsection (2) may only be exercised where a person admits the offence and agrees in writing to the offence being dealt with under that subsection.

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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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