(1) The penalties imposed under sections 9(3), 19(9), 19(10), 44(4), 56(2), 57(8), 68, 69(5), 96 and 174 shall be paid to the Central Bank.
(2) The Central Bank may, without prejudice to any other remedies available to it under the law recover such penalties by deduction from any deposit maintained by a licensed financial institution with the Central Bank.