

On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 18/04/2013.

36.
—(1) The Authority may issue written directions, either of a general or specific nature, to an approved holder or approved bank if the Authority thinks it is necessary or expedient for ensuring the integrity of the stored value of the widely accepted stored value facility concerned.
(2) Without prejudice to the generality of subsection (1), a written direction issued under that subsection may relate to the obligations of the approved holder or approved bank to the users of a widely accepted stored value facility.
(3) An approved holder or approved bank to which a written direction is issued under this section shall comply with the direction.
(4) An approved holder or approved bank that fails to comply with a written direction issued under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.







