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← Payment Services Act 2019

Payment Services Act 2019 s 41

s 41 Provision of information to Authority

41.—(1) The Authority may, by notice in the form and manner prescribed, require any of the following persons to provide to the Authority, within a reasonable period specified in the notice, such information relating to a payment system as the Authority may require:(a) any participant of the payment system; (b) any operator of the payment system, or any person acting on behalf of the operator; (c) any settlement institution of the payment system. (2) Without limiting subsection (1), the Authority may in a notice issued under that subsection require any person mentioned in paragraph (a), (b) or (c) of that subsection to provide, whether in the form of a return to be provided on a periodic basis or otherwise —(a) information relating to —(i) the operation of the payment system; and (ii) the pricing of, or other form of consideration for, the services offered by the payment system; (b) information relating to the participation or other involvement of that person in the payment system; and (c) such other information as the Authority may require for the purposes of this Act. (3) Subject to subsection (5), any person to whom a notice is issued under subsection (1) must comply with the notice. (4) A person that contravenes subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction. (5) A person to whom a notice is issued under subsection (1) is not obliged to disclose any information that the person is prohibited by any written law from disclosing.

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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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