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Cap. 618 · Residual Balances Fund Act (Cap. 618)

Cap. 618 Art. 28Administrative penalties and measures.

PART VI

In KraftAmtlicher Text

(1) Without prejudice to the powers of the Authority under this or any other Act, and any regulations issued thereunder, where the Authority is satisfied that a person’s conduct amounts to a breach of any of the provisions of this Act or any regulations issued thereunder, the Authority may, by notice in writing and without recourse to a court hearing, take any of the following administrative measures:

(a) impose an administrative penalty in the form of a fixed penalty, a daily penalty, or both, not exceeding one hundred and fifty thousand euro (€150,000), for each breach;

(b) issue a public statement which indicates the person responsible for the breach and the nature of such breach;

(c) issue an order requiring the person responsible for the breach to cease the conduct and to desist from a repetition of that conduct;

(d) issue a directive in writing requiring a person to do or to refrain from doing any act, including such prohibitions, restrictions and conditions as may be specified in the directive; and

(e) impose such other administrative penalties and, or measures as may be specified in any regulations issued under this Act.

(2) The Authority may publish, on its official website and in any other media as it considers appropriate, any administrative penalty or measure imposed under the provisions of this Act and of any regulations made thereunder. Such publications shall include information on the type and nature of the breach and the identity of the person on whom the administrative penalty or measure was imposed, without undue delay after that person is informed of that administrative penalty or measure.

(3) The Minister may, in consultation with the Authority, make regulations as shall be deemed appropriate:

(a) to provide further for the establishment and imposition of administrative penalties and measures; and

(b) to better implement the provisions of this article.