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5. (1) A person guilty of an offence under regulation 4 shall be liable —
(a)on conviction on indictment, to a fine or to imprisonment for a term not exceeding two years or to both;
(b)on summary conviction, to a fine not exceeding the relevant amount or to imprisonment for a term not exceeding six months or to both.
(2) In paragraph (1) “the relevant amount” means —
(a)in the case of an offence under regulation 4(a), £20,000;
(b)in any other case, the statutory maximum.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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