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Section 60

Power to make regulations

of Currency Act 2020

ActIn forceProvision 60 of 71
Section 60

(2)

Without prejudice to the generality of subsection (1), regulations may be made to provide—

(a)

for fees payable to the Bank in respect of any matter under this Act;

(b)

for the registration of a registered currency processor;

and

(c)

for any other matters relating to currency.

(3)

Any regulations made under this section may prescribe an act or omission in contravention of the regulations to be an offence and may prescribe penalties of a fine not exceeding fifty thousand ringgit or to imprisonment for a term not exceeding one year or to both for such offence.

(4)

Regulations made under this section may relate to all or any class, category or description of persons, and the Minister, on the recommendation of the Bank, may make different provisions for different classes, categories or descriptions of persons.