(1) Any person who, being a director or manager of an Islamic bank -
(a) fails to take all reasonable steps to secure compliance by the bank with the requirements of this Act and of the Central Bank of Malaysia Act 1958 (hereafter in this section referred to as "the Act"); or
(b) fails to take all reasonable steps to ensure the correctness of any statement submitted under the provisions of this Act or the Act,
shall be guilty of an offence and shall on conviction be liable to a fine not exceeding twenty thousand ringgit or to imprisonment for a term not exceeding three years or to both such fine and imprisonment.
(2) In any proceedings against a person under subsection (1) it shall be a defence to prove that he has reasonable grounds to believe that another person was charged with the duty of securing compliance with the requirements of this Act or the Act or with the duty of ensuring that those statements were accurate and that that person was competent and in a position to discharge that duty.
(3) A person shall not be sentenced to imprisonment for any offence under subsection (1) unless in the opinion of the Court he committed the offence wilfully.