Any agent (owners' corporation (OC) management committee
member/employee) solicits or accepts any advantage (such
as gift, loan, contract, discount or favour) for doing
or forbearing to do any act in relation to his principal's
affairs (e.g. conducting a tender exercise) without the
permission of his principal (OC/employer) shall be guilty
of an offence. Any person who offers such an advantage
is also liable.
Any agent uses any false/erroneous/defective receipt /account/other documents to deceive his principal shall also be guilty of an offence.
Penalty: A maximum fine of $500,000 and imprisonment for 7 years
