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Proclamation no. 591-2008 The National Bank of Ethiopia Establishment

[Article] 26. Penalties
1/ Whosoever:
a) in violation of the provisions of this Proclamation or regulations or directives issued pursuant to this Proclamation:
(1) engages in transactions of foreign exchange or fails to declare to a bank or authorized dealer when he acquires foreign exchange or the right to receive foreign exchange;
(2) receives or effects payments in foreign exchange;
(3) delays his receipt or extinguishes his right to receive foreign exchange;
(4)leaves or attempts to leave or enters or attempts to enter Ethiopian territory carrying Ethiopian currency in excess of the amount fixed or authorized by the National Bank; or
(5) is found carrying foreign exchange in excess of the amount fixed or authorized by the National Bank;
b) with intent to evade the provisions of this Proclamation or regulations or directives issued pursuant to this Proclamation or to distort their application destroy, tears apart, alters, deletes or hides a document or produces false evidence or makes false declaration;
c) discloses information in violation of Article 22 of this Proclamation; or
d) in any other manner violates or obstructs the implementation of this Proclamation or regulations or directives issued pursuant to this Proclamation;
shall, without prejudice to the confiscation of the property with which the offence is committed, be punishable in accordance with the provisions of the Criminal Code.
2/ Unless a higher penalty is applicable under the Criminal Code pursuant to sub-article (1) of this Article:
a)the punishment shall, without prejudice to the confiscation of the property with which the offence is committed, be rigorous imprisonment not exceeding 15 years and fine not less than Birr 50,000 and not exceeding Birr 100,000 where the accused misused the power of his official position or where he committed the offence with intent to improperly amass wealth or where the offence is committed repeatedly;
b)where the offence is connected with currency, gold, security, goods or any other property, the fine shall, without prejudice to the confiscation of the property with which the offence is committed and the punishment of imprisonment, not exceed three times the value of the property unless it is lower than that imposed under paragraph (a) of this sub-article;
c)where the offence is committed by a body corporate, the fine may, without prejudice to the confiscation of the property with which the offence is committed, be raised to six times the value of gold, currency, security, goods or any other property with which the offence is committed unless it is lower than that imposed under paragraph (a) of this sub-article.
3/ Whosoever commits over or under invoicing of imported or exported goods shall, without prejudice to the confiscation of the property with which the offence is committed, be punishable with fine up to three times the value of the property unless it is lower than the fine specified under sub-article (2)(a) of this Article, and with rigorous imprisonment from 15 to 25 years.
4/ Where any offence under this Article is committed by a body corporate, the director or any other official who was, at the time of the commission of the offence, responsible for the management of the body corporate shall be jointly liable and shall be punishable with rigorous imprisonment from seven to ten years and with fine from Birr 50,000 to Birr 100,000, unless he can prove sufficiently to of the court that he had no knowledge and could not, by the exercise of reasonable diligence, have had knowledge of the commission of the offence.
5/Where the offence is committed by an employee or an agent of a body corporate, such employee or agent shall be punishable in accordance with sub-article (4) of this Article, unless he can prove sufficiently to the court that he had no knowledge and could not, by the exercise of reasonable diligence, have had knowledge of the commission of the offence.

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