245. Power of Bank to take action

any provision of this Act;

any regulations made under this Act;

any order made or any direction issued under this Act by the Bank including an order made under section 106 or a direction issued under section 128 or 168, subsection 225(6)

any standards, condition, restriction, specification, requirement or code under this Act.

the effectiveness of the enforcement action to be taken under this Act;

the proportionality of the action to be taken with the breach committed;

deterrence of future breaches of similar nature by other persons; and

any other matter that is considered as relevant in the opinion of the Bank.

make an order in writing requiring the person in breach—

to comply with or give effect to; or

to do or not to do any act in order to ensure compliance with, such provisions, regulations, order, direction, standards, condition, restriction, specification, requirement or code referred to in subsection (1);

subject to subsection (4), impose a monetary penalty—

in accordance with the order published in the Gazette made under section 247 or if no such order has been made, such amount as the Bank considers appropriate, but in any event not exceeding five million ringgit in the case of a breach that is committed by a body corporate or unincorporate or one million ringgit in the case of a breach that is committed by any individual, as the case may be;

which shall not exceed three times the gross amount of pecuniary gain made or loss avoided by such person as a result of the breach; or

which shall not exceed three times the amount of money which is the subject matter of the breach,

reprimand in writing the person in breach or require the person in breach to issue a public statement in relation to such breach, if it is in the opinion of the Bank that such breach is relevant for the information of the general public;

make an order in writing requiring the person in breach to take such steps as the Bank may direct to mitigate the effect of such breach; or

make an order in writing requiring an authorized person, operator of a designated payment system or a market participant to remedy the breach including making restitution to any other person aggrieved by such breach.

breach of any provision set out in Schedule 15;

breach of any requirement under any other provision of this

failure to comply with any requirement imposed under regulations made under this Act where no provision for imposition of penalty is provided for in accordance with paragraph 271(2)(d); or

failure to comply with any standards, code, order, direction, requirement, condition, specification, restriction or otherwise made or imposed pursuant to any provision set out in Schedule 15.

who is its director, controller, officer or partner, or was purporting to act in any such capacity; or

who is concerned in the management of its affairs, at the time of the breach unless that person demonstrates that the breach was committed without his consent or connivance and that he exercised such diligence to prevent the breach as he ought to have exercised, having regard to the nature of his function in that capacity and to the circumstances.

who is a director, controller, officer or partner of a body corporate or unincorporate, or was purporting to act in any such capacity; or

who is concerned in the management of the affairs of a body corporate or unincorporate, an action under subsection (3) can be taken against the body corporate or unincorporate.

whether or not one or more persons have suffered loss or been otherwise adversely affected as a result of the breach;

the profits that have accrued to such person in breach.