Section 34
Penalty for offences not otherwise provided for
(1)
Any finance company which, or person who, contravenes or fails to comply with any provisions of this Act or any order made under this Act for which no penalty is expressly provided is guilty of an offence and liable on conviction to a fine of $20,000 and imprisonment for 5 years.
(2)
The Authority may, without instituting proceedings against any person for any offence against this Act, or any regulations made thereunder, which is punishable only by a fine or a default penalty, demand and receive the amount of such fine or default penalty or such reduced amount as he thinks fit from such person, whereupon -
(a)
if such person pays such amount to the Authority within 14 days after the demand, no proceedings shall be taken against him in relation to the offence; and
(b)
if such person does not so pay the amount so demanded. the
Authority may cause proceedings to be instituted in relation to the offence.
38
Finance Companies