PART 7Offences relating to financial services
I192Penalties
1
A person guilty of an offence under this Part is liable—
a
on summary conviction, to imprisonment for a term not exceeding the applicable maximum term or a fine not exceeding the statutory maximum, or both;
b
on conviction on indictment, to imprisonment for a term not exceeding 7 years or a fine, or both.
2
For the purpose of subsection (1)(a) “the applicable maximum term” is—
a
in England and Wales, 12 months (or 6 months, if the offence was committed before the commencement of F1paragraph 24(2) of Schedule 22 to the Sentencing Act 2020);
b
in Scotland, 12 months;
c
in Northern Ireland, 6 months.