Power of Authority to make regulations for this Part
30AAJ.—(1)  The Authority may make regulations for the purposes of this Part, including regulations to prescribe anything which may be prescribed under this Part.
(2)  Without prejudice to the generality of subsection (1), regulations made under this section may provide that any contravention of any specified provision of the regulations shall be an offence punishable —
(a)in the case of an individual, with a fine not exceeding $125,000 or with imprisonment for a term not exceeding 3 years or with both and, in the case of a continuing offence, with a further fine not exceeding $12,500 for every day or part thereof during which the offence continues after conviction; or
(b)in any other case, with a fine not exceeding $250,000 and, in the case of a continuing offence, with a further fine not exceeding $25,000 for every day or part thereof during which the offence continues after conviction.
(3)  For the purposes of sections 30AAB(1)(c)(i) and 30AAC(3)(a), the Authority may prescribe different persons and different classes of persons in relation to different relevant financial institutions and different classes of relevant financial institutions.
[Act 9 of 2013 wef 18/04/2013]