Money Services Business Act 2011 · s 78

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s 78Power to make regulations

(1)

The Bank may, with the approval of the Minister, make such regulations as may be necessary or expedient for giving full effect to the provisions of this Act.

(2)

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

(a)

to provide for administrative actions pursuant to section 75 and for civil actions pursuant to section 76;

(b)

to provide for offences which may be compounded;

(c)

to provide that any act or omission in contravention of any provision of the regulations shall be an offence; and

(d)

to provide for the imposition of penalties for offences provided in the regulations which shall not exceed a fine of five hundred thousand ringgit or imprisonment for a term not exceeding three years or to both.