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← Financial Services and Markets Act 2022

Financial Services and Markets Act 2022 s 106

s 106 Offence

106.—(1) A person that refuses or fails to comply with a provision of the order under section 104 that applies to the person, or a direction issued to the person under section 105, shall be guilty of an offence and shall be liable on conviction —(a) in the case of an individual, 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; or (b) in any other case, to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction. (2) Where a person is charged with an offence under subsection (1), it is a defence for the person to prove that —(a) the person was not aware of the contravention of the provision of the order or the direction; and (b) the person has complied with the provision of the order or the direction within a reasonable time after becoming aware of the contravention. (3) Except as provided in subsection (2), it is not a defence for a person charged with an offence under subsection (1) that the person did not intend to or did not knowingly contravene the provision of the order or the direction.

Read this section in the full act → · Open Division 9 →

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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