Article 193 - Contraventions and administrative notice of financial penalty

(1) Where:
(A) a provision of these Regulations provides that a failure to comply with a provision constitutes a contravention and renders the person liable to a financial penalty in relation to the contravention; and
(B) the CRO considers that a person has committed such a contravention, the CRO may impose by written notice given to the person a financial penalty, in respect of the contravention, of such amount as he considers appropriate, which written notice shall state the period of time within which the financial penalty must be paid.
(2) If a person is knowingly concerned in such a contravention committed by another person, the aforementioned person as well as the other person commits a contravention and is liable to be proceeded with and dealt with under Article 193(1).
(3) If, within the period specified in the notice issued under Article 193(1):
(A) the person pays the financial penalty imposed by the CRO, then no proceedings may be commenced by the CRO against the person in respect of the relevant contravention; or
(B) the person objects to the imposition of the financial penalty or has not paid the imposed fine to the CRO, then the CRO may apply to the QFC Court for, and the QFC Court may so order, the payment of the financial penalty or so much of the fine as is not paid and make any further order as the QFC Court sees fit for recovery of the financial penalty.
(4) A certificate that purports to be signed on behalf of the CRO and states that a written notice was given to a person pursuant to Article 193(1) imposing a financial penalty on the basis of specific facts is:
(A) conclusive evidence of the giving of the notice to the person; and
(B) prima facie evidence of the facts contained in the notice
in any proceedings commenced under Article 193(3).
(5) Nothing in this Article limits the powers that the CRO may otherwise have in relation to a failure to comply with these Regulations or other Regulations, including its powers under the Companies Regulations to issue and enforce a direction to a Company or any officer of it to make good a failure.