All provisions · Beneficial Ownership Act (Cap. 251B) · Part IV: Miscellaneous provisions
17B Power to issue directions
(1) A Competent Authority may issue a direction to a legal person or legal arrangement or resident agent, as it considers appropriate, to ensure compliance with the provisions of this Act.
(2) A direction issued under this Act may specify the time by which, or period during which, it shall be complied with.
(3) A Competent Authority may revoke a direction issued under this section at any time.
(4) Any person who fails to comply with a direction issued under this section shall be liable to a penalty not exceeding SCR150, 000. (Inserted by Act 38 of 2022)
(2) A direction issued under this Act may specify the time by which, or period during which, it shall be complied with.
(3) A Competent Authority may revoke a direction issued under this section at any time.
(4) Any person who fails to comply with a direction issued under this section shall be liable to a penalty not exceeding SCR150, 000. (Inserted by Act 38 of 2022)
Official source: Beneficial Ownership Act (Cap. 251B), Act 4 of 2020, Revised Edition as at 31 May 2024 (Acts 4 of 2020, 6 of 2021, 26 of 2021, 38 of 2022, 28 of 2023); Act 18 of 2025 worked in by us
