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Banking Act, 1990 (Cap. 371) Penalties For Offences (Amendment) Regulations, 2003 (L.N. 385 Of 2003 )

BANKING ACT (CAP. 371)
Penalties for Offences (Amendment) Regulations, 2003
IN exercise of the powers conferred by article 35 of the Banking Act, the Minister of Finance and Economic Affairs, after consultation with the Malta Financial Services Authority, has made the following regulations>–

Citation and commencement.

L.N. 155 of 1999

.

Amends

First Schedule to the principal

regulations.

Amends

Second Schedule to the

principal regulations.

1. (1) The title of these regulations is the Penalties for Offences (Amendment) Regulations, 2003, and shall be read and construed as one with the Penalties for Offences Regulations, 1999, hereinafter referred to as “the principal regulations”.
(2) These regulations shall come into force on the 5th
December, 2003.
2. In the First Schedule to the principal regulations, immediately after the final paragraph there shall be added the following>–
“Any person found guilty of an offence under any other provision of the Act or any rules or regulations made thereunder which is not specifically provided for in this Schedule, shall be liable to a fine of not less than Lm100 and not more than Lm30,000 or to imprisonment for a term not exceeding two years, or to both such fine and imprisonment.”.
3. In the Second Schedule to the principal regulations, immediately after the final paragraph thereof there shall be added the following>–
“Any person who breaches any other provision of the Act or any rules or regulations made thereunder or of any directives and which may give rise to the imposition of an administrative penalty not otherwise specifically provided for in this Schedule, shall be liable to a penalty of not less than Lm100 and not more than Lm30,000 and to a penalty of not more than Lm25 for every day the default continues, or to both such penalties together, as the case may be.”.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press

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