Section 148
General penalty
of Labuan Islamic Financial Services and Securities Act 2010
ActIn forceProvision 148 of 161
Section 148
(1)
A person who commits an offence under this Act or any regulations made under this Act for which no penalty is expressly provided shall, on conviction, be liable—
(a)
in the case of a body, incorporated or unincorporated, to a fine not exceeding three million ringgit; or
(b)
in the case of an individual, to a fine not exceeding one million ringgit.
Act 705
(2)
In the case of a continuing offence, shall in addition, be liable to a daily fine not exceeding five thousand ringgit for each day the offence continues to be committed.