Cap. 514 чл. 46Administrative penalties and other measures.

(1) Without prejudice to any other powers assigned to the competent authority in terms of this Act, where a licence holder or an officer, or any other person responsible for a licence holder contravenes or fails to comply with any of the conditions imposed in a licence and, or where the competent authority is satisfied that a person’s conduct amounts to a breach of any of the provisions of this Act, regulations or Pension Rules made thereunder, including failure to cooperate in an investigation, the competent authority may by notice in writing and without recourse to a court hearing impose on the licence holder, officer and, or any other person, as the case may be, an administrative penalty which may not exceed one hundred and fifty thousand euro (€150,000) in respect of each infringement or failure to comply, as the case may be and, where such infringement or failure to comply continues, a further penalty not exceeding one hundred and sixteen euro (€116) for each day during which the infringement or failure to comply continues.

(2) Pension Rules may provide for the imposition of administrative penalties or other measures that may be imposed by the competent authority on licence holders or others, as may be specified, whether in the form of a fixed penalty, a daily penalty or both, for any breach of the said Pension Rules.

(3) The imposition by the competent authority of an administrative penalty in terms of this article shall be without prejudice to any other consequence of the act or omission of the offender under civil or criminal law: Provided that, in all cases where the competent authority imposes an administrative penalty in respect of anything done or omitted to be done by any person and such act or omission also constitutes a criminal offence under this Act, no proceedings may be taken or continued against the said person in respect of such criminal offence.

(4) The competent authority shall, without undue delay, publish in such medium and in such manner and for such duration, as it may determine, any administrative penalty or other measure which is imposed for breaches of the provisions of this Act, any regulations or Pension Rules issued thereunder, and with regard to which no appeal was filed within the time limit prescribed by law. Such publication shall include information on the type and nature of the breach and the identity of the natural or legal person responsible for the breach.

(4A) Notwithstanding sub-article (1), the competent authority may decide to defer publication, not to publish, or to publish on an considered by the competent authority to be disproportionate, following a case by case assessment conducted on the proportionality of the publication of such data; or

(b) where the publication jeopardises the stability of financial markets or an ongoing investigation.

(5) The imposition by the competent authority of an administrative measure in terms of this article shall be without prejudice to any other consequences of the act or omission of the offender under civil or criminal law: Provided that, in all cases where the competent authority imposes an administrative measure consisting of an administrative penalty in respect of anything done or omitted to be done by any person and such act or omission also constitutes a criminal offence under this Act, no proceedings may be taken or continued against the said person in respect of such criminal offence.