Clause 16
Amendment of section 57
of Finance Companies (Amendment) Bill
BillNot in forceProvision 16 of 16
Clause 16
Section 57 of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(3) Such regulations may provide that a contravention of any provision thereof shall be an offence and shall be punishable with a fine not exceeding $5,000 or with imprisonment for a term not exceeding one year or with both as may be specified in the regulations.”.