16. Amendment of section 182 of the principal enactment

Section 182 of the principal enactment is hereby amended by the addition immediately after subsection (4)

of that section, of the following new subsection: -

“(5) A financial institution that fails to comply with the procedure specified by the Commissioner-General in terms of subsection (7) of section 86, shall be liable for a penalty of an amount not exceeding fifty thousand rupees.”.