(a) contravenes or fails to comply with a provision of this Act; or
(b) fails to comply with a requirement, notice, order or direction issued by the Minister or by the Bank under this Act or a regulation made under this Act,
commits an offence and, where no penalty is expressly provided, is liable on conviction to a fine of five hundred thousand ringgit or to imprisonment for a term of six months or to both.
(2) Notwithstanding subsection (1), where the person convicted of an offence is a body corporate, the penalty of imprisonment for the offence does not apply to it.