My bookmarksSign up free
← Monetary Authority of Singapore Act 1970

Monetary Authority of Singapore Act 1970 s 176

s 176 Composition of offences

176.—(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 prescribed for that offence.[13/2007; 9/2013; 31/2017] (1A) The Authority may compound any offence under this Act (including an offence under a provision that has been repealed) which —(a) was compoundable under this section at the time the offence was committed; but (b) has ceased to be so compoundable, by collecting from a person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 prescribed for that offence at the time it was committed. [9/2013] (2) On payment of the sum of money referred to in subsection (1) or (1A), no further proceedings are to be taken against that person in respect of the offence.[13/2007; 9/2013] (3) The Authority may make regulations to prescribe the offences which may be compounded.[13/2007] (4) All sums collected by the Authority under subsection (1) or (1A) must be paid into the Consolidated Fund.[9/2013]

Read this section in the full act → · Open PART 6 →

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.

The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.

What to look at next