Acceptance of Offer of Composition Made by the Monetary Authority of Singapore
1. I, _________ [Name and NRIC/Passport Number] [If made by an officer of a body corporate, a partner of a partnership, or an officer or a member of governing body of an unincorporated association, to state his position], acknowledge that the Monetary Authority of Singapore has by way of a letter dated __________________ made an offer of composition under section 50 of the Payment Systems (Oversight) Act (Cap. 222A) (the Act) in respect of an offence [or offences] under the Act or any subsidiary legislation made thereunder, committed by ________________________________ [myself/my business trading as Business Name/Name of body corporate, partnership or unincorporated association, of which I am a representative authorised by the body corporate/partnership/unincorporated association.].
2. The offer made by the Monetary Authority of Singapore is as follows:
Offence and date of offence
Composition sum offered
(Brief description of the offence, the provision of the Act breached and the date of the breach)
(State composition sum)
3. I agree to the offer of composition as stated above and enclose, with this form, payment of the composition sum.
Signature of person accepting the offer of composition or authorised person accepting the offer of composition on behalf of a body corporate, a partnership, or an unincorporated association
4. If the person to whom the offer of composition is made and who accepts the composition is not literate in English, the person interpreting it shall attest as follows:
I, _________ [Name and NRIC/Passport Number], have interpreted this form to the person accepting the offer of composition in ____________ [state language] and have ascertained that he understands the contents of the form and agrees to the composition.
Signature of interpreter
[G.N. No. S 333/2006]