Section 257
( 1)
of Securities Markets Order, 2013
ORDERIn forceProvision 256 of 288
Section 257
This section applies to regulated persons who are licensed under this
Order.
(2)
Licensees referred to in subsection ( 1) shall pay administrative charges to the Authority as it may determine.
(3)
A licensee who fails to notify the Authority by the period specified in each relevant section or by any period determined shall, in addition thereto, pay a late payment penalty in an amount not exceeding $50,000, and in the case of a continuing offence, to a further fine not exceeding $5,000 for every day after or part thereof during which the offence continues after conviction.
Copy of entry in the regulated person's record as prima facie evidence of such entry.