Section 93: Power of Commission to issue direction

93. Power of Commission to issue direction (1) Without prejudice to the powers of the Commission under the Financial Services Act, where the Commission is of the view that a licensee or registered person is not complying with any provision of this Act, FSC Rule or guideline, it may direct the licensee or registered person to comply with such provision, FSC Rule or guideline. (2) A licensee or registered person who fails to comply with a direction issued under subsection (1) 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 3 years. [S. 93 amended by s. 27 of Act 16 of 2007 w.e.f. 28 September 2007.] [Issue 1] I15 – 60 Revised Laws of Mauritius