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must use reasonable care to ensure that the document is not false or misleading in any material
particular.
(3)
Any individual who contravenes subsection (1) or (2) shall (if the provision of such
information, or the signing or lodging of such document, that is false or misleading in a material
particular is not already an offence under any other provision of this Act) be guilty of an offence
and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term
not exceeding 2 years or to both.
General penalty
97. Any person guilty of an offence under this Act for which no penalty is expressly
provided shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $50,000; or
(b)
in any other case, to a fine not exceeding $100,000.
Composition of offences
98.—(1) The Authority may, in its discretion, 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 half of the amount of the
maximum fine prescribed for that offence.
(2)
The Authority may, in its discretion, compound any offence under this Act (including
an offence under a provision that has been repealed) that —
(a)
was compoundable under this section when 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 half of the amount of the maximum fine prescribed for that offence at the
time it was committed.
(3)
On payment of the sum of money mentioned in subsection (1) or (2), no further
proceedings may be taken against that person in respect of the offence.
(4)
All sums collected by the Authority under subsection (1) or (2) are to be paid into the
Consolidated Fund.
PART 8
MISCELLANEOUS
Jurisdiction of the District Court
99. Despite any provision to the contrary in the Criminal Procedure Code (Cap. 68), a District
Court has —
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(a)
jurisdiction to try any offence under this Act; and
(b)
power to impose the full penalty or punishment in respect of any offence under this
Act.
Opportunity to be heard
100. Where this Act provides for a person to be given an opportunity to be heard by the
Authority, the Authority may prescribe the manner in which the person is to be given such
opportunity to be heard.
Power of the court to make certain orders
101.—(1) Where, on an application of the Authority, it appears to the court that a person —
(a)
has committed an offence under this Act; or
(b)
is about to do an act that, if done, would be an offence under this Act,
the court may (without prejudice to any other order it may make) make one or more of the
orders under subsection (2).
(2)
The orders mentioned in subsection (1) are —
(a)
in the case of a persistent or continuing contravention of a provision of this Act, an
order restraining a person from —
(i)
carrying on business in providing one or more types of payment services;
(ii)
carrying on the business of operating a payment system;
(iii)
carrying on the business as a settlement institution of a payment system;
(iv)
holding itself out as a licensee;
(v)
holding itself out as an operator or settlement institution of a designated
payment system;
(b)
for the purpose of securing compliance with any order made under this section, an
order directing a person to do or refrain from doing any specified act; or
(c)
any ancillary order the court considers to be desirable as a result of making any
other order under this section.
(3)
The court may, before making an order under subsection (2), direct that notice of the
application be given to such person as it thinks fit or that notice of the application be published
in such manner as it thinks fit, or both.
(4)
Any person that, without reasonable excuse, contravenes an order made under
subsection (2) shall be guilty of an offence and shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for
a term not exceeding 2 years or to both; or
(b)
in any other case, to a fine not exceeding $100,000.
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(5)
Subject to subsection (6), subsection (4) does not affect the powers of the court in
relation to the punishment of contempt of court.
(6)
Where a person is convicted of an offence under subsection (4) in respect of any
contravention of an order made under subsection (2), such contravention is not punishable as a
contempt of court.
(7)
A person cannot be convicted of an offence under subsection (4) in respect of any
contravention of an order made under subsection (2) that has been punished as a contempt of
court.
(8)
The court may rescind, vary or discharge an order made by it under this section or
suspend the operation of such an order.
General exemption
102.—(1) The Authority may, by regulations, exempt any person or any class of persons
from all or any of the provisions of this Act, subject to such conditions as may be prescribed.
(2)
The Authority may, on the application of any person, exempt the person from —
(a)
all or any of the provisions of this Act; or
(b)
the requirements specified in any notice in writing,
if the Authority considers it appropriate to do so in the circumstances of the case.
(3)
An exemption under subsection (2) —
(a)
may be granted by notice in writing subject to such conditions as the Authority may
specify in the notice;
(b)
need not be published in the Gazette; and
(c)
may be varied or withdrawn at any time by the Authority.
(4)
The Authority may at any time add to, vary or revoke any term or condition imposed
under this section.
(5)
Any person that contravenes any condition —
(a)
prescribed under subsection (1);
(b)
specified by the Authority under subsection (3)(a); or
(c)
added or varied under subsection (4),
shall be guilty of an offence.
Codes, guidelines, etc. by Authority
103.—(1) The Authority may issue, and in its discretion publish by notification in the
Gazette or in any other manner it considers appropriate, such codes, guidelines, policy
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