SINGAPORE Law and Practice Contributed by: Jason Lim, Sreenivasan Narayanan SC and Palaniappan Sundararaj, Sreenivasan Chambers LLC
be done, an illegal act, or an act which is not illegal by illegal means. This is punishable even if the act is not committed. Corporate Criminal Liability Corporate entities are not absolved of criminal liability. Section 2 of the Interpretation Act 1965 and Section 11 of the PC define “person” to include companies and other bodies of persons, whether incorporated or not. Liability may be attributed to a company and the acts and mental state of an officer are treated as those of the company itself, as the officer is regarded as the company’s directing mind and will. The company may also face liability for actions of an officer or employee acting within a delegated managerial function. Singapore legislation also imposes express corporate liability. Section 236B of the Securities and Futures Act 2001 (SFA) provides that a corporation may be guilty of market conduct offences (including false trading, market rigging and market manipulation) where such offences are committed by an employee or officer with the corporation’s consent or connivance, and for its benefit. 1.2 Burden and Standard of Proof The Prosecution bears the burden of proof. It must prove all requisite elements of the offence beyond a reasonable doubt. This evidentiary principle is ground - ed in the presumption of innocence, which is in turn a fundamental principle of Singapore’s criminal justice system. Presumptions, Reverse Burdens and Strict Liability Offences Relevant to Financial Crime Certain financial crime offences are often strict liability offences. For example, Section 253 of the SFA pro - vides that where an offer of securities or securities- based derivatives contracts is made pursuant to a prospectus or profile statement, and the document contains a false or misleading statement, an omission of required information, or a failure to disclose a new material circumstance arising after lodgment, liability arises under Section 253 (4). Here, liability is imposed even where the accused was not involved in making the false or misleading statement or omission.
There are offences where the burden of proof shifts to the accused. For example, Section 8 of the Pre - vention of Corruption Act 1960 (PCA) provides that where gratification is shown to have been given to a public officer by a person who has dealings with the government or a public body, it is presumed to have been given corruptly unless the contrary is proved. The standard of proof, to prove the contrary, is on a balance of probabilities. 1.3 Aiding and Abetting Where a person conspires with or assists the principal offender, the person may be held secondarily liable by way of abetment. Section 107 of the PC provides that a person abets an offence if they: • instigate another person; • engage in a conspiracy, where an act or omission occurs pursuant to that conspiracy; or • intentionally aid the commission of the offence. 1.4 Limitation Periods Criminal Offences There are no limitation periods for the prosecution of criminal offences in Singapore. Criminal charges do not lapse and may be instituted at any time at the discretion of the Public Prosecutor. Civil Recovery Actions Civil recovery actions are subject to limitation periods as prescribed in the Limitation Act 1959 (LA). Sec - tion 6 (1) of the LA provides that certain categories of actions must be commenced within six years from the date on which the cause of action accrued. Section 6 (2) of the LA further provides that an action for an account shall not be brought in respect of any matter which arose more than six years before the commencement of the action. However, some exceptions apply. Section 24A(3) of the LA introduces an alternative time limit tied to the claimant’s knowledge. In this connection, an action must be brought within six years from accrual or three years from the earliest date on which the claimant first had the requisite knowledge and a right of action, whichever is later. Section 29 (1) of the LA allows for
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