Para 28 is on "Duty of institution to ensure compliance with Shariah"

Identify the incorrect statements.

"Where an institution becomes aware that it is carrying on any of its business, affair or activity in a manner which is not in compliance with Shariah or the advice of its Shariah committee or the advice or ruling of the Shariah Advisory Council, the institution shall immediately notify the Bank and its Shariah Committee of the fact

An institution shall at all times ensure that its aims and operations, business, affairs and activities are in compliance with Shariah.

Any person who contravenes or commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty five million ringgit or both.

Where an institution becomes aware that it is carrying on any of its business, affair or activity in a manner which is not in compliance with Shariah or the advice of its Shariah committee or the advice or ruling of the Shariah Advisory Council, the institution shall continue carrying such business, affair or activity and continue carrying out any other similar business, affair or activity until the Shariah Committee gave instruction to discontinue all of these business activities.

"Where an institution becomes aware that it is carrying on any of its business, affair or activity in a manner which is not in compliance with Shariah or the advice of its Shariah committee or the advice or ruling of the Shariah Advisory Council, the institution shall within three months of becoming aware of such non compliance, submit to the Bank a plan on the rectification of the non compliance