Control on credit

(1) The Bank may after consultation with the specified financial institutions issue orders to control the volume, terms and conditions of credit including instalment credit extended through loans, advances or investments by such institutions. (2) Any person who contravenes the provisions of any orders in pursuance of section 46 or sub-section (1), commits an offence and shall on summary conviction be liable to a fine not exceeding five thousand dollars or to imprisonment for a term not exceeding twelve months, or to both such fine and imprisonment. 33