All provisions · AML/CFT Act (Cap. 251) · Part X: Pecuniary penalty order

91 Interest on unpaid sums

(1) Subject to subsection (2), if any sum required to be paid by a person under a pecuniary penalty order is not paid within the stipulated time, the person liable to make the payment shall also be liable to pay interest on that sum for the period for which it remains unpaid and the amount of the interest shall for the purposes of enforcement be treated as part of the amount to be received from him or her under the pecuniary penalty order;
(2) The amount of interest payable under subsection (1) shall be disregarded for the purposes of calculating the term of imprisonment to be imposed under section 89.
(3) The rate of interest payable under subsection (1) shall be the legal rate.

Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)

Related provisions

WhatsApp