Cap. 647 Art. 51Offences. 

(1) Any person who:

(a) contravenes or fails to comply with any of the provisions of Articles 16 or 59 of the MiCA Regulation or articles 9, 26, 39(1), 40(1), 40(5) or 52(1), or of article 40(1) or 40(5) as applied in terms of article 41;

(b) contravenes or fails to comply with any condition, obligation, requirement, directive or order made or given in accordance with any of the provisions of the MiCA Regulation, this Act or any regulations made, or Rules issued thereunder;

(c) for the purposes of, or in accordance with, any of the provisions of the MiCA Regulation, this Act or any regulations made, or Rules issued thereunder, or any condition, obligation, requirement, directive or order made or given as aforesaid, furnishes information or makes a statement which he knows to be inaccurate, false or misleading in any material respect, or recklessly furnishes information or makes a statement which is inaccurate, false or misleading in any material respect;

(d) with intent to avoid detection of the commission of an offence in accordance with this Act, removes, destroys, conceals or fraudulently alters any book, document or other paper; and, or

(e) intentionally obstructs a person exercising rights or powers conferred by the MiCA Regulation, this Act or any regulations made, or Rules issued thereunder, shall be guilty of an offence.

(2) A natural person guilty of an offence under sub-article (1) shall be liable, on conviction, to imprisonment for a term not exceeding six (6) years, or to a fine (multa) not exceeding five million euro (€5,000,000), or to both such fine and imprisonment, unless such fine (multa) or term of imprisonment is otherwise imposed in regulations made under this Act.

(3) A legal person guilty of an offence under sub-article (1) shall be liable, on conviction, to a fine (multa) not exceeding fifteen million euro (€15,000,000), unless such fine is otherwise imposed in regulations made under this Act.

(4) The provisions of this Act or of any regulations made thereunder shall not affect any criminal proceedings that may be initiated under any other law.

(5) The competent authority shall have the power to:

(a) liaise with the Commissioner of Police to receive specific information related to criminal investigations or proceedings commenced for breaches of the MiCA Regulation, this Act or any regulations made, and Rules issued thereunder. The Commissioner of Police shall cooperate with the competent authority, thereby providing such specific information related to any criminal investigations or proceedings commenced in relation to such breaches; and

(b) provide the same information received in accordance with paragraph (a), and transmit copies of acts and documents of the courts of criminal justice in accordance with the second proviso to article 518 of the Criminal Code, to other authorities which are deemed competent authorities for the purposes of Article 93 of the MiCA Regulation, as well as to the EBA and ESMA, for the purpose of fulfilling its obligations to cooperate for the purposes of the MiCA Regulation, this Act or any regulations made, and Rules issued thereunder.