On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 01/02/2012.
8.
—(1) If the Authority is satisfied that a person who is granted a licence under section 5 or 5B or any regulations made under this Act is contravening, or has contravened, whether by act or omission —
(a)
any of the conditions of the licence or part thereof;
(b)
any provision of any code of practice or standard of performance;
(c)
the Authority may, by notice in writing, do either or both of the following:
(i)
issue such written order to the person as it considers requisite for the purpose of securing compliance thereof;
(ii)
require the person to pay, within a specified period, a financial penalty of an amount not exceeding the higher of the following amounts:
(A)
10% of the annual turnover of that part of the person’s business in respect of which the person is granted the licence, as ascertained from the person’s latest audited accounts; or
(B)
$1 million.
(2) If the Authority is satisfied that —
(a)
the person mentioned in subsection (1) is again likely to contravene, whether by act or omission, any condition, provision, direction or section referred to in that subsection;
(b)
the person mentioned in subsection (1) has gone into liquidation other than for the purpose of amalgamation or reconstruction;
(c)
the person mentioned in subsection (1) is no longer in a position to comply with this Act or the terms or conditions of his licence; or
(d)
the public interest so requires,
the Authority may (in lieu of an order or a financial penalty under subsection (1)(i) or (ii)) by notice in writing and without payment of any compensation, do all or any of the following:
(i)
cancel the licence or part thereof;
(ii)
suspend the licence or part thereof for such period as it thinks fit;
(iii)
reduce the period for which the licence is to be in force.
(3) [Deleted by Act 10/2005 wef 16/02/2005]
(4) An order under subsection (1)(i) —
(a)
shall require the person concerned (according to the circumstances of the case) to do, or to refrain from doing, such things as are specified in the order, or as are of a description specified in the order; and
(b)
shall take effect at such time (being the earliest practicable time) as is determined by or under that order.
(4A) The Authority may at any time vary, suspend or revoke the whole or any part of an order under subsection (1)(i).
(5) Any person who fails to comply with any order under subsection (1)(i) 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 3 years or to both.
[10/2005 wef 16/02/2005]
(6) In any proceedings brought against any person for an offence under subsection (5), it shall be a defence for him to prove that he took all reasonable steps and exercised all due diligence to avoid contravening the order.
(6A) If the Authority, by notice in writing under subsection (1), requires a person who is granted a licence to pay, within a specified period, a financial penalty under subsection (1)(ii), and the person fails or refuses to pay the financial penalty within the specified period, the Authority may, by notice in writing and without payment of any compensation, do all or any of the following:
(a)
cancel the licence or part thereof;
(b)
suspend the licence or part thereof for such period as it thinks fit;
(c)
reduce the period for which the licence is to be in force.
(7) Any financial penalty payable by any person under subsection (1)(ii) shall be recoverable by the Authority as a debt due to the Authority from that person; and the person’s liability to pay shall not be affected by his licence ceasing (for any reason) to be in force.