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21. Amendment of section 22

Section 22 of the principal Act is amended—

(a)

in subsection (2), by substituting for the words “High

Court” the words “Magistrate’s Court”; and

(b)

in subsection (4)—

(i)

by substituting for the words “one hundred thousand”

the words “one million”;

(ii)

by substituting for the words “six months” the words “three years”; and

Anti-Money Laundering and Anti-Terrorism

Financing (Amendment)

(iii)

by substituting for the words “to a further fine not exceeding one thousand ringgit for each day during which the offence continues after conviction” the words “shall in addition be liable to a fine not exceeding three thousand ringgit for each day or part thereof during which the offence continues to be committed”.

Report

Read on from s 22