16
shown, allow in writing) of the date of service of the order shall be guilty of an offence and liable
to a fine not exceeding level eight for each day during which it is in default of compliance with
the order, calculated from the day when the disclosure order was served.
19 Compliance orders under Part III
(1) Where the Director has reasonable grounds for believing that a trader, parastatal,
financial institution or moneylender has failed to comply with section ten, eleven, twelve,
thirteen, fourteen, fifteen, subsection (1) or (2) of sixteen or section seventeen, as the case may
be, the Director may (whether or not after the issue of a disclosure order) issue a compliance
order in writing to the trader, parastatal, financial institution or moneylender directing that trader,
parastatal, financial institution or moneylender—
(a) in the case of a contravention of section ten, to open an account with a financial
institution within seven days of the date of service of the order and furnish proof
satisfactory to an inspector that such account has been opened no later than seven days
after it is opened; or
(b) in the case of a contravention of section eleven, to deposit in a financial institution any
cash held in contravention of that section no later than the close of normal business
hours on the day following that on which the order is served or on the next banking day,
and furnish proof satisfactory to an inspector that such deposit has been made no later
than seven days after it is made; or
(c) in the case of a contravention of section twelve, to cease immediately to settle any of its
trade debts exceeding five million dollars in cash or such other amount as prescribed by
the Minister; or
(d) in the case of a contravention of section thirteen, to begin keeping the records referred
to in that provision and furnish no later than seven days after the date of service of the
order proof satisfactory to an inspector that it has begun to do so; or
(e) in the case of a contravention of subsection (1) of section fourteen—
(i) to cease immediately to trade in cash in the manner described in that provision;
and
(ii) to deposit in a financial institution any cash being so traded no later than the
close of normal business hours on the day following that on which the order is
served or on the next banking day; and
(iii) to furnish proof satisfactory to an inspector that such deposit has been made no
later than seven days after it is made;
or
(f) in the case of a contravention of subsection (2) of section fourteen, to cease immediately
to collect the premium referred to in that section and to refund to any person who paid it
the amount so collected; or
(g) in the case of a contravention section fifteen, to deposit in a financial institution any
cash in excess of what may lawfully be held by the moneylender concerned no later than
the close of normal business hours on the day following that on which the order is
served or on the next banking day, and furnish proof satisfactory to an inspector that
such deposit has been made no later than seven days after it is made; or
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