Intellectual Property Rights from Publicly Financed Research and
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 17 : MiscellaneousPart 3 : Offences and penalties274. Accounts and records |
A person who is required in terms of a financial sector law to keep accounts or records commits an offence if—
| (a) | the accounts or records do not correctly record and explain the matters, transactions, acts or operations to which they relate; and |
| (b) | the person— |
| (i) | knew that, or was reckless whether, the accounts or records correctly recorded and explained the matters, transactions, acts or operations to which they relate; |
| (ii) | intended to deceive or mislead a financial sector regulator or an investigator; or |
| (iii) | intended to hinder or obstruct a financial sector regulator, or an investigator in performing his or her duties in terms of a financial sector law, |
and is liable on conviction to a fine not exceeding R10 000 000, or imprisonment for a period not exceeding 10 years, or to both a fine and such imprisonment.
