National Small Business Act, 1996 (Act 102 of 1996)
R 385
Financial Markets Control Act, 1989 (Act No. 55 of 1989)36. Penalties |
| (1) | Any person who— |
| (c) | contravenes a provision of section 4 (2) or 5 (1); |
| (d) | refuses or fails to comply with any direction, request, requirement or condition of the Registrar in terms of any provision of this Act; |
| (e) | carries on the business of a member at any time when in terms of a declaration under section 31 he is disqualified from doing so, |
shall be guilty of an offence and on conviction liable —
| (i) | in the case of an offence referred to in paragraph (a) or (e), to a fine or to imprisonment for a period not exceeding five years, or to both that fine and that imprisonment; |
| (ii) | in the case of an offence referred to in paragraph (b) or (d), to a fine or to imprisonment for a period not exceeding two years, or to both that fine and that imprisonment; and |
| (iii) | in the case of an offence referred to in paragraph (c), to a fine or to imprisonment for a period not exceeding one year, or to both that fine and that imprisonment. |
[Subsection (1) amended by section 5 of Act 13 of 1998]
| (2) | Notwithstanding anything to the contrary in any law contained, a court established for a regional division by virtue of section 2 of the Magistrates' Court Act, 1944 (Act No. 32 of 1944), shall be competent to impose any penalty provided for in this Act. |
(3)
| (a) | If any person intentionally or negligently fails to submit to the Registrar or to furnish the Registrar with any record, return statement, report or other document or information in accordance with a requirement of this Act within the period determined by or under this Act, the Registrar may impose upon him or her by way of a notice in writing a fine not exceeding the prescribed amount for every day during which such failure continues: Provided that the Registrar may not impose any such fine before the person to be fined has been afforded an opportunity of making representations in writing to the Registrar setting out the reason for the failure to submit or to furnish such record, return, statement, report or other document or information. |
[Paragraph (a) amended by section 12 of Act 73 of 1996]
| (b) | A fine imposed under paragraph (a) shall be paid to the Registrar within such period as may be specified in the notice, and if the person concerned fails to pay the fine within the specified period the Registrar may by way of civil action in a competent court recover from such person the amount of the fine or any portion thereof which the Registrar may in the circumstances consider justified. |
[Subsection (3) added by section 28 of Act 54 of 1991]
