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Section 118

Consequences of failing to comply with directions

of Financial Services Act 2013

ActIn forceProvision 118 of 124
Section 118

A financial holding company, its subsidiary, director or chief executive officer of such financial holding company or such subsidiary who fails to comply with a direction issued under subsection 116(2) or (3) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding ten years or to a fine not exceeding fifty million ringgit or to both.

128 Laws of Malaysia