Foreign co-operative societies
95A.—(1)  The Minister may make rules for or with respect to the registration or regulation of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof, and which carry on business in Singapore.
(2)  Without limiting subsection (1), the Minister may, in making rules under subsection (1) in respect of co-operative societies which are registered, incorporated or formed outside Singapore, or a class thereof —
(a)specify the circumstances under which such co-operative societies or any class thereof is or is not regarded as carrying on business in Singapore; and
(b)specify the provisions of this Act that apply to the co‑operative societies and the modifications subject to which they apply.
(3)  The rules made under subsection (1) —
(a)may provide that a contravention of any specified provision thereof shall be an offence; and
(b)may provide for penalties not exceeding a fine of $10,000 for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of $500 for every day or part of a day during which the offence continues after conviction.