Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 17 : MiscellaneousPart 3 : Offences and penalties272. Miscellaneous |
(1)
| (a) | A financial sector regulator or the Reserve Bank commits an offence if information is disclosed or shared for a purpose that is not authorised in terms of section 251(1) or (2), or in a manner that is not authorised as referred to in section 251(5). |
| (b) | Both an official or employee who shares or discloses information, and the financial sector regulator or the Reserve Bank on whose behalf the information is shared or disclosed, commit an offence if an official or employee— |
| (i) | who is not authorised to share or disclose information shares or discloses information in contravention of section 251(6)(c); |
| (ii) | who is authorised to share or disclose information shares or discloses information for a purpose that is not authorised in terms of section 251(1) or (2), or in a manner that contravenes section 251(3) or (4). |
(2)
| (a) | If a financial sector regulator or the Reserve Bank commits an offence referred to in subsection (1), it is liable on conviction to a fine not exceeding R5 000 000. |
| (b) | An official or employee who commits an offence referred to in subsection (1)(b) is liable on conviction to a fine not exceeding R5 000 000, or imprisonment for a period not exceeding five years, or to both a fine and such imprisonment. |
| (3) | An auditor who contravenes section 252 commits an offence and is liable on conviction to a fine not exceeding R5 000 000. |
| (4) | A person who contravenes section 254 commits an offence and is liable on conviction to a fine not exceeding R5 000 000 or imprisonment for a period not exceeding five years, or to both a fine and such imprisonment. |
| (5) | A person who contravenes a condition imposed in terms of section 280 commits an offence and is liable on conviction to a fine not exceeding R5 000 000. |