Gazette amending-2023-0001 — Monetary Authority Act

Gazette

amending-2023-0001

Published

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s2Amended section heading and inserted new definitions for exempted limited partnership, limited liability partnership, and partnership.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s34Repealed subsection (18).

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s42AReplaced with a new section expanding the Authority's power to impose administrative fines and providing for liability of officers and partners.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s42BUpdated fine amounts to use words instead of figures and revised the fine structure for serious and very serious breaches.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s42FAmended the definition of 'disgorgement principle' to change 'licensees under' to 'persons regulated under the'.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s42HReplaced with a new section on regulations under this Part, providing for prescribed provisions, forms, procedures, appeals, etc.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s44AAdded new section on offences by corporations, partnerships, unincorporated associations, etc., establishing liability for officers and partners.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s50Amended to allow disclosure to overseas regulatory authority and insert new subsections regarding criminal conduct.

Supplement No. 1 published with Legislation Gazette No. 16 dated 26th May, 2023 —

s50AAdded new section on disclosure to the competent authority, allowing sharing of information with the Minister under the Companies Act.