Section 19H: Powers of regulatory body

19H. Powers of regulatory body (1) A regulatory body shall have such powers as are necessary to enable it to effectively discharge its functions and may, in particular – (a) issue guidelines for the purposes of combating money laundering activities and the financing of terrorism and proliferation activities; (b) give directions to a member falling under its purview to ensure compliance with this Act and the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019, and any regulations made and guidelines issued under those Acts; 170 Acts 2019 (c) require a member falling under its purview to submit a report on corrective measures it is taking to ensure compliance with this Act and the United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019, and any regulations made and guidelines issued under those Acts, at such intervals as may be required by the regulatory body; (d) with respect to a member falling under its purview, apply, subject to subsection (2), any or all of the following administrative sanctions – (i) issue a private warning; (ii) issue a public censure; (iii) impose such administrative penalty as may be prescribed by the regulatory body; (iv) ban, where the regulatory body has licensed or authorised the member to conduct his business or profession, from conducting his profession or business for a period not exceeding 5 years; (v) revoke or cancel a licence, an approval or an authorisation, as the case may be. (2) (a) Subsection (1)(d) shall not apply to a barrister, an attorney or a notary. (b) Where a barrister, an attorney or a notary has failed or is failing to comply with, or has failed or is failing to take such measures as are required under this Act or the United Nations (Financial Prohibitions, Arms Embargo Acts 2019 171 and Travel Ban) Sanctions Act 2019, or any regulations made or guidelines issued under those Acts, FIU shall, pursuant to section 13 of the Law Practitioners Act, report the matter to the Attorney-General. (c) On receipt of a report under paragraph (b), the Attorney-General shall take such measures as are required under section 13 of the Law Practitioners Act. (3) Any person who fails to comply with a direction issued under subsection (1)(b) and (c) shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years. (4) A regulatory body may publish any of its decision or determination, or the decision of the Review Panel, or any other information the regulatory body may deem appropriate. Sub-Part C – Supervisory Powers of Regulatory Body