Section 46
of Securities Markets Order, 2013
Section 46
(1)
Any person who without reasonable excuse fails to comply with a requirement imposed on him under the investigation powers of the Authority is guilty of an offence and liable on conviction to a fine not exceeding $100,000, and, in the case of a continuing offence, with a further fine not exceeding $10,000
for every day or part thereof during which the offence continues after conviction.
\2)
A person who is convicted on a prosecution instituted as a result of an investigation under this section may in the same proceedings be ordered to pay the expenses of the investigation.
(3)
Any person who intentionally obstructs the exercise of any rights conferred by a warrant or fails without reasonable excuse to comply with any requirement to disclose the whereabouts of documents requested is guilty of an offence and liable on conviction to a fine not exceeding $500,000, imprisonment for a term not exceeding one year or both.
Confidential information.