What are the penalties that will be imposed for non-compliance?
Penalties for breaching licensing conditions include suspension or revocation of licence. Penalties for offences under the FTZ Act can include prosecution or imposition of a composition sum on the offence. In lieu of a suspension or revocation of licence, Singapore Customs may also carry out any of the following:
- Issue a letter of censure;
- Modify a condition of the licence;
- Direct the licensee to do, or to refrain from doing, such things as are specified in a direction to rectify the non-compliance or contravention; or
- Require the licensee to pay a financial penalty not exceeding $5,000 for non-compliance of a licence condition.
The penalty will be dependent on the severity and impact of non-compliance.
Related questions
What are the penalties for offences under the Strategic Goods (Control) Act?
Will Singapore Customs modify the licensing conditions frequently and cause unnecessary disruption to the Free Trade Zone (FTZ) operator's operations and/or cause them to incur additional costs?
If my company's Free Trade Zone (FTZ) Operator Licence has expired while the licence renewal has not been approved, can my company continue with its operations while waiting for Singapore Customs' assessment?
Why do we need to pay a licence fee for the Free Trade Zone Operator licence?
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