PART 7Offences relating to financial services

92Penalties

(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 F110 years or a fine, or both.

(2)

For the purpose of subsection (1)(a) “the applicable maximum term” is—

(a)

in England and Wales, F2the general limit in a magistrates’ court (or 6 months, if the offence was committed before F32 May 2022);

(b)

in Scotland, 12 months;

(c)

in Northern Ireland, 6 months.