(1) Where in the opinion of the Bank the operations of a person engaged in non-bank financial services, which are not regulated under this Act, are not conducive to the stability of the financial sector, the Bank, may commence investigations into the operations of that person and may issue orders to that person or group as appropriate.

(2) A person who fails or neglects to comply with the orders issued under subsection (1) commits an offence under this Act and is liable on summary conviction to a fine of one thousand penalty units or a term of imprisonment of not less than twelve months and where the offence continues after conviction to a fine of not less than two thousand penalty units for each day the offence continues.