Cap. 10:31 PuBuc ENTITIES CoRPORATE GovERNANCJ' No. 4/2018 (2) An amount may be specified for the purposes of subsection (1)(a) as a specific amount or value; or (b) (c) as a maximum amount or value; or by reference to any other criteria that the ivfinister considers appropriate. (3) Notwithstanding any other law, where a notice has been published in ter111s of subsection (I) fixing an amount to be received by members of any board, no such members shall be paid or given any remuneration, allowance or benefit in excess of the amount specified in the notice: Provided that a person who, immediately before the notice \Vas published, was being paid or given a higher amount shall be entitled to be paid or given that higher amount for three months after the publication of the notice. (4) No public entity shall-(a) extend any loan or credit to; or (b) enter into or facilitate any transaction whose net effect is substantially similar to extending a loan or credit to; a member of the entity's board or to an associate of a board member. (5) Any- (a) (b) board member of a public entity who knowingly authorises a loan, extension of credit or transaction in contravention of subsection (4); or board member who knowingly accepts, on his or her own behalf or on behalf of an associate, a loan, extension of credit or transaction in contravention of subsection (4); shall be guilty of an otfence and liable to a fine not exceeding level ten or to imprisonment for a period not exceeding one year or to both such fine and such imprisonment. (6) In addition and independently of the institution of any criminal or civil penalty proceedings, any property of any description obtained by means of an extension of credit, or a loan, or any other such transaction whose net effect is substantially similar to an extension of credit or a loan, made in contravention of this section, shall be deemed to be "tainted property" resulting from the commission of a "serious offence,. for the purposes of section 80 (''Civil forfeiture orders') of the Money Laundering and Proceeds of Crime Act [Chapter 9:24] (No.4 of 2013), and may be recovered at the instance of the Attorney -General or Prosecutor-General in tern1s of that section. (7) No public entity shall pay a member of its board a sitting allowance or other amount in respect of attendance at a meeting unless the meeting has been held and the member has attended it Provided that an appropriate amount may be paid to a member who attends at the venue of a meeting which is subsequently postponed or cancelled. (8) This section shall not limit the obligation of an accounting officer or member of the Civil Service employed in a line Ministry to comply with section 51 A ("Separation of roles of appropriate Ministries and public entities') of the Public Finance Management Act [Chapter 22:19] that is, to seek clearance from the Treasmy before approving the remuneration or allowance of any member of a public entity. (9) Unless prompt voluntary reimbursement is made of any remuneration, allowance, benefit or payment made in contravention of subsection (4) or (7), without prejudice to any other remedies that may be available in terms of this Act, the recipient shall be subject to a surcharge levied in accordance with the Third Schedule for the recovery of the amount he or she was paid or benefited from the contravention. 87