21.—(1) Where the Authority requires a licensed trust company to produce any book under the Act and the original version of the book is not in the English language, the licensed trust company shall, within a reasonable time, produce to the Authority a true and accurate translation of that book in the English language.
(2) Any licensed trust company which contravenes paragraph (1) shall be guilty of an offence.
Opportunity to be heard
22.—(1) Where the Act provides for a person to be given an opportunity to be heard by the Authority, the Authority shall post or deliver to that person a notice —
(a)
stating the decision it intends to make that affects him and the grounds for the decision; and
(b)
inviting him to give the Authority, within such period as may be specified in the notice (not being less than 10 days from the date of the receipt of the notice), any written statement, accompanied by relevant supporting documents, as to why the Authority should reconsider the decision it intends to make.
(2) Any written statement given under paragraph (1)(b) shall be signed by the person to whom the opportunity to be heard is given, a duly authorised employee of that person, or an advocate and solicitor acting for that person.
(3) The Authority shall consider any written statement and supporting documents given under paragraph (1)(b) in making its final decision.
(4) In this regulation, “decision” includes any action of, direction by or order issued by the Authority under the Act.
Compoundable offences
23. The following offences may be compounded by the Authority in accordance with section 69 of the Act:
(a)
any offence under the Act which is punishable by a fine only;
(b)
any offence under section 3(4) of the Act; and
(c)
any offence under section 65(1)(a) of the Act, where the non-compliance referred to in that section constitutes an offence which is compoundable under paragraph (a).
Acceptance of composition of offence
24.—(1) The Authority may compound an offence under section 69 of the Act only if the person reasonably suspected of having committed the offence —
(a)
accepts the offer of composition made by the Authority in writing in the form set out on the Authority’s website at http://www.mas.gov.sg; and
[S 496/2018 wef 14/08/2018]
(b)
pays the composition sum to the Authority,
within 14 days after the offer of composition is made or such longer period as the Authority may specify.
(2) Where the person referred to in paragraph (1) is not an individual, the acceptance of composition shall be made —
(a)
in the case of a body corporate, by an officer of that body corporate;
(b)
in the case of a partnership, by a partner of that partnership; or
(c)
in the case of an unincorporated association (other than a partnership), by an officer of that association or a member of its governing body.
(3) In paragraph (2) —
“body corporate” includes a limited liability partnership;
“officer” —
(a)
in relation to a body corporate, means any director, partner, member of the committee of management, chief executive, manager, secretary or other similar officer of the body corporate; and
(b)
in relation to an unincorporated association (other than a partnership), means the president, the secretary, any member of the committee of the association or any person holding a position analogous to that of president, secretary or member of a committee.