Fines, etc. to be placed to the credit of the Central Bank

Where the Central Bank is empowered under this Act or any regulations and practice directions made hereunder, to impose a fine or other penalty for failure to comply with any provisions of this Act or any regulations or practice directions made hereunder, the Central Bank may, without prejudice to any other remedies available to it under the law and after due process has been concluded, recover such fine or other penalty from the deposit maintained by the licensee with the Central Bank under section 39.