Payment and Settlement Systems (Oversight) Act · s 25

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s 25Contravention of section 23 or 24

(1)

Any person who contravenes section 23(1) or (2), or any condition imposed by the Authority under section 24(1), is guilty of an offence and liable on conviction to a fine not exceeding $200,000 and, in the case of a continuing offence, to a further fine not exceeding $20,000 for every day or part thereof during which the offence continues after conviction.

(2)

Any person who contravenes section 24(3)(b) or (c), (4) or (5) or any direction issued by the Authority under section 24(2), is guilty of an offence and liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part thereof during which the offence continues after conviction.