PART 6
MISCELLANEOUS
Statistics
164.—(1)  The Authority may, at any time, for the purpose of carrying out its functions under this Act request such persons or classes of persons as it may decide to collect and provide such statistical information as the Authority may specify and those persons or classes of persons must comply with that request.
[31/2017]
(2)  Statistical information received from the persons or classes of persons referred to in subsection (1) is to be regarded as secret between them and the Authority.
(3)  Any person who fails to comply with a request of the Authority under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.
Authority’s financial year
165.  The financial year of the Authority begins on 1 April of each year and ends on 31 March of the succeeding year.
[31/2017]
Budget
166.—(1)  The Authority must, in every financial year, prepare a budget containing estimates of income and expenditure of the Authority for the ensuing financial year and a supplementary budget (if necessary) for any financial year and present them to the President for his or her approval under Article 22B of the Constitution.
[31/2017]
(2)  The budget and supplementary budget (if any) when approved by the President must be published in the Gazette.
Audit
167.  The accounts of the Authority are to be audited by the Auditor‑General.
[31/2017]
Preparation and publication of financial statements and annual report
168.—(1)  The Authority must, within 6 months from the close of its financial year, transmit to the President —
(a)a copy of the financial statements certified by the Auditor‑General and those statements must then be published in the Gazette; and
(b)a report by the board on the performance of the functions and duties of the Authority throughout the financial year and that report must be published by the Authority.
[24/2003; 13/2007; 31/2017]
(2)  The Authority must, within 6 months from the close of its financial year, cause the financial statements and the annual report to be presented to Parliament.
[24/2003]
(3)  In preparing the financial statements for the purpose of this section, the Authority may comply with accounting standards to the extent that it is, in the Authority’s opinion, appropriate to do so, having regard to the objects and functions of the Authority.
[24/2003]
Borrowing from Authority by employees
169.  The Authority may grant loans to its employees for any purpose specifically approved by the Authority.
[31/2017]
Power to appoint attorney
170.—(1)  The Authority may, by instrument under its common seal, appoint a person (whether in Singapore or in a place outside Singapore) to be its attorney.
[31/2017]
(2)  The person so appointed may, subject to the instrument, do any act or execute any power or function which he or she is authorised by the instrument to do or execute.
Validity of acts and transactions of Authority
171.  The validity of an act or transaction of the Authority is not to be called in question in any court on the ground that any provision of this Act has not been complied with.
[31/2017]
Guarantee by Government
172.—(1)  The Government is responsible for the payment of all moneys due by the Authority.
[31/2017]
(2)  Nothing in this section authorises a creditor or other person claiming against the Authority to sue the Government in respect of the creditor’s or the person’s claim.
Consent of Public Prosecutor
173.  No prosecution in respect of any offence under this Act may be instituted without the consent in writing of the Public Prosecutor.
[15/2010; 31/2017]
Legal officer of Authority may act for Authority in civil proceedings
174.  Despite any written law, a legal officer of the Authority who has been admitted as an advocate and solicitor under the Legal Profession Act 1966 or a State Counsel may —
(a)appear in any civil proceedings on behalf of the Authority under the Securities and Futures Act 2001, including proceedings referred to in section 232 of that Act; and
(b)make and do all acts and applications in respect of such proceedings on behalf of the Authority.
[2/2000; 42/2001; 31/2017]
Jurisdiction of District Court
175.  Despite any other written law, a District Court has jurisdiction to try all offences under this Act and to impose the full penalty prescribed therefor.
[31/2017]
Composition of offences
176.—(1)  The Authority may 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 one half of the amount of the maximum fine prescribed for that offence.
[13/2007; 9/2013; 31/2017]
(1A)  The Authority may compound any offence under this Act (including an offence under a provision that has been repealed) which —
(a)was compoundable under this section at the time 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 one half of the amount of the maximum fine prescribed for that offence at the time it was committed.
[9/2013]
(2)  On payment of the sum of money referred to in subsection (1) or (1A), no further proceedings are to be taken against that person in respect of the offence.
[13/2007; 9/2013]
(3)  The Authority may make regulations to prescribe the offences which may be compounded.
[13/2007]
(4)  All sums collected by the Authority under subsection (1) or (1A) must be paid into the Consolidated Fund.
[9/2013]
177.  [Repealed by Act 18 of 2022 wef 10/05/2024]
Exemption
178.—(1)  The Authority may, by regulations, exempt any person or class of persons from all or any of the provisions of Parts 5A and 5B and any regulations made under section 144 or 151, subject to such conditions or restrictions as may be prescribed.
[9/2013; 31/2017]
[Act 18 of 2022 wef 10/05/2024]
(2)  The Authority may, on the application of any person, by notice in writing exempt the person from —
(a)all or any of the provisions of Parts 5A and 5B and any regulations made under section 144 or 151; and
[Act 18 of 2022 wef 10/05/2024]
(b)all or any of the requirements specified in any direction made by the Authority under this Act,
subject to such conditions or restrictions as the Authority may specify by written notice.
[9/2013; 31/2017]
(3)  The Authority may at any time, by written notice to a person, add to, vary or revoke any condition or restriction imposed on the person under subsection (2).
[9/2013]
(4)  It is not necessary to publish any exemption granted under subsection (2) in the Gazette.
[9/2013]
Power of Authority to make regulations relating to objects and purposes of Act
179.  The Authority may, with the approval of the President, make regulations for the better carrying out of the objects and purposes of this Act.
[9/2013; 31/2017]
Operation of Act not to affect Currency Act 1967
180.  Nothing in this Act affects the operation of the Currency Act 1967.
[31/2017]