60
NO. 10 OF 2001
Decision following investigation
58. Where, following an investigation conducted under section 54, the Authority considers that section 50 (1) or 51 (1) has been infringed and the Authority proposes to make a direction under section 59, the Authority shall—
- (a) give written notice to the person likely to be affected by such direction; and
- (b) give such person an opportunity to make representations to the Authority.
Enforcement and appeal
59.—(1) Where the Authority has made a decision that section 50 (1) or 51 (1) has been infringed, the Authority may give directions to such person as the Authority considers appropriate to bring the infringement to an end.
(2) A direction referred to in subsection (1) may, in particular, include provisions—
- (a) where the decision is that any agreement infringes section 50 (1)—
- (i) requiring the person to modify or terminate the agreement; and
- (ii) in the case of an agreement referred to in section 50 (2) (f), requiring the person to dispose of all or any of the relevant shares or assets, otherwise than to an associated person, within a period specified in the direction, being not less than 3 months after service of the direction;
- (b) where the decision is that any conduct infringes section 51 (1)—
- (i) requiring the person to modify the conduct in question; or
- (ii) requiring the person to cease that conduct; and
- (c) in either case, requiring the person—
- (i) to pay to the Authority a financial penalty in respect of the infringement of an amount not exceeding $1 million or 10% of the annual turnover of such person’s business in Singapore, ascertained from its latest audited accounts, whichever is the higher; and
