Section 28
Holding out as authorized person or registered person
of Financial Services Act 2013
ActIn forceProvision 28 of 124
Section 28
(1)
No person shall hold himself out to be—
(a)
an authorized person unless he is authorized; or
(b)
a registered person unless he is registered, under this Act.
Financial Services 71
(2)
Any person who contravenes paragraph (1)(a) 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.
(3)
Any person who contravenes paragraph (1)(b) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty-five million ringgit or to both.