Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 17 : MiscellaneousPart 3 : Offences and penalties266. Licensing |
| (1) | A person who contravenes section 111(1), (2), (3), (4) or (5) commits an offence and is liable on conviction to a fine not exceeding R15 000 000 or imprisonment for a period not exceeding 10 years, or to both a fine and such imprisonment. |
| (2) | A licensee who contravenes section 117 is liable to an administrative penalty not exceeding R5 000 for each day during which the offence continues. |
| (3) | A licensee who contravenes section 127 is liable to an administrative penalty not exceeding R50 000. |