Interpretation for this Part

(1) For the purposes of this Part“administrative penalty” means a late payment penalty or the penalties specified in column 2 of the Schedule for disciplinary violations specified in column 1 of the Schedule; Schedule. Money Laundering and 24 Terrorism (Prevention) “disciplinary violation” includes a contravention of an AML/CFT obligation, failure of a DNFBP to pay any fee payable under the Act or these Regulations on or before the date on which the fee is due for payment as well as the violations categorised in column 1 of the Schedule; “late payment penalty” means an administrative penalty imposed in respect of the failure of a DNFBP to pay any fee payable under the Act or these Regulations on or before the date on which the fee is due for payment. (2) For the purposes of determining whether a disciplinary violation has been committed with respect to failure to pay a fee, a fee payable under the Act or these Regulations is deemed not to have been paid until it has been paid in full. (3) The imposition of an administrative penalty becomes final on the earliest of– (a) the payment by the DNFBP of the penalty; (b) the date when, in accordance with regulation 17, the DNFBP is considered to have committed the disciplinary violation; or (c) the dismissal of any appeal of the DNFBP, provided that the time for any further appeal has expired.