27.—(1) A licensee must place with the Accountant-General a deposit of the prescribed amount.
(2) The deposit must be in cash or any other form that the Registrar may, in writing, allow.
(3) The deposit is to be security for the licensee’s compliance with the conditions of its licence and the provisions of this Act, including the payment of any financial penalty imposed under section 37(2)(a).
(4) If the deposit or part of the deposit is forfeited by the Registrar, the licensee must replace the forfeited amount within 14 days (or any longer period that the Registrar may allow) after the forfeiture.
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.
