Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999
41After subsection 36(2)
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41 After subsection 36(2)
(2A) An ADI is guilty of an offence if:
(a) the Reserve Bank has given a direction under subsection (2) that applies to the ADI; and
(b) the ADI fails to comply with the directions; and
Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.
(2B) An offence against subsection (2A) is an indictable offence.
Note: The heading to section 38A is altered by omitting “bank” and substituting “ADI”.