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Proclamation No. 626-2009 Micro-Financing Business Proclamation

[Article] 25. Penalties
1/ Any director, officer or employee of a micro-financing institution who;
a) obstructs the proper performance by an auditor of his duties in accordance with the provisions of this Proclamation or inspection of a micro-financing institution by an inspector duly authorized by the National Bank; or
b) with intent to deceive, makes any false or misleading statement or entry, or omits any statement or entry that should be made in any book, account, report or statement of micro-financing institution; shall be punished with a fine from Birr 500,000 to Birr 100,000 and with rigorous imprisonment from 10 to 15 years.
2/ Without prejudice to sub-article (1) of this Article, any person who contravenes or obstructs the provisions of this Proclamation or regulations or directives issued to implement this Proclamation shall be punished with a fine up to Birr 10,000 and with an imprisonment up to three years.

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