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Section 90: Offences and penalties

Financial Services Act · PART XII: MISCELLANEOUS

consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

90. Offences and penalties (1) Any licensee, or present or former controller of a licensee, or any employee of a licensee, who fails to comply with any requirement imposed by or under this Act, or a direction or requirement issued under this Act, shall commit an offence and shall, where no specific penalty is provided, on conviction, be liable to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding 5 years. (2) Any person who contravenes this Act or any regulations made under this Act shall commit an offence and shall, on conviction, be liable, where no specific penalty is provided, to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding 5 years.

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