101U.K.In Schedule 20 (penalties), after the entry relating to paragraph 14(5) of Schedule 7 insert—
| “Paragraph 8(1) of Schedule 7A (individual regulated participant knowingly enters controlled transaction with unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(2) of Schedule 7A (responsible person of members association which enters controlled transaction with unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(3) of Schedule 7A (individual regulated participant failing to repay money obtained under controlled transaction with unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(4) of Schedule 7A (responsible person failing to repay money obtained by members association under controlled transaction with unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(5) of Schedule 7A (individual regulated participant knowingly benefits from connected transaction involving unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(6) of Schedule 7A (responsible person of members association which knowingly benefits from connected transaction involving unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(7) of Schedule 7A (individual regulated participant failing to repay value of benefit obtained in consequence of connected transaction involving unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(8) of Schedule 7A (responsible person failing to repay value of benefit obtained by members association in consequence of connected transaction involving unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 8(9) of Schedule 7A (facilitating controlled transaction involving unauthorised participant) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 12(1) of Schedule 7A (failure to deliver transaction report to Commission within time limit) | On summary conviction: Level 5 |
| Paragraph 12(2) of Schedule 7A (failure to comply with requirements for recording transactions on transaction reports) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year |
| Paragraph 13(4) of Schedule 7A (making a false declaration about a transaction report) | On summary conviction: statutory maximum or 12 months On indictment: fine or 1 year” |
Commencement Information
I1Sch. 1 para. 101 partly in force; Sch. 1 para. 101 not in force at Royal Assent see s. 77; Sch. 1 para. 101 in force for E.W.S. for certain purposes at 11.9.2006 by S.I. 2006/1972, art. 3, Sch. 1 para. 25(m) (as amended by S.I. 2006/2268, art. 3) (subject to art. 4, Sch. 2 of S.I. 2006/1972); Sch. 1 para. 101 in force for N.I. at 1.7.2008 by S.I. 2008/1656, art. 2(1)(2)(d)(i) (subject to art. 3, Sch.)