|615||Title:||Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance||Gazette Number:||15 of 2011|
|Section:||23||Heading:||Guidelines on how relevant authorities exercise power to impose pecuniary penalty||Version Date:||01/04/2012|
(1) A relevant authority must, before it first exercises its power to impose a pecuniary penalty referred to in section 21(2)(c), publish in the Gazette and in any other manner that it considers appropriate, guidelines to indicate the manner in which it proposes to exercise that power.
(2) In exercising its power to impose a pecuniary penalty referred to in section 21(2)(c), the relevant authority must have regard to the guidelines published by it under subsection (1).
(3) Guidelines published under subsection (1) are not subsidiary legislation.