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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 17 : Miscellaneous

Part 3 : Offences and penalties

266. 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.