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Cap. 620 · National Foreign Direct Investment (Cap. 620)

Cap. 620 Art. 17Offences and administrative penalties.

PART VI

In KraftAmtlicher Text

(1) The Office may, by notice served on the offender, impose administrative penalties amounting to:

(a) not less than five thousand euro (€5,000) and not exceeding fifty thousand euro (€50,000) on any person for failure to notify the Office in accordance with article 11;

(b) not less than one thousand euro (€1,000) and not exceeding five thousand euro (€5,000) on any person who fails or refuses to provide information in accordance with articles 11 and 12;

(c) not less than five thousand euro (€5,000) and not exceeding one hundred thousand euro (€100,000) on any party who provides incorrect, inaccurate or incomplete information, in accordance with articles 11 and 12.

(2) Any person who being requested to take any necessary measures in terms of articles 13 and 14, fails to carry out such measures within the time established by the Office for such purpose, shall be liable to an administrative penalty of five hundred euro (€500) for every day that elapses from the date stipulated by the Office:

Provided that the imposition of any administrative penalty shall be without prejudice to any other right or remedy which may be competent to the Office in terms of this Act.

(3) The notice relating to the administrative penalty imposed under sub-articles (1) and (2) shall specify:

(a) the date and nature of the offence;