Financial Institutions Act
Financial Institutions (Compounding of Offences) Regulations, 2013
Statutory Instrument 12 of 2013
- Commenced on 18 February 2013
- [This is the version of this document at 1 December 2014.]
1. CitationThese Regulations may be cited as the Financial Institutions (Compounding of Offences) Regulations, 2013.
2. Compounding of offencesThe Central Bank may compound an offence in consultation with the Attorney-General in lieu of instituting legal proceedings under the Act.
3. Procedure for compounding of offenceThe Central Bank, after identifying the offence shall notify the financial institution or such person in writing of—
4. Compounded monetary penalty
5. Compounding of offences to be finalAn acceptance to compound an offence shall be final and conclusive.
6. Breach of agreementWhere the terms of the agreement to compound the offence has been breached, the Central Bank may institute legal proceedings.
History of this document
18 February 2013