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 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 section 154(1) of the Criminal Justice Act 2003);
(b)
in Scotland, 12 months;
(c)
in Northern Ireland, 6 months.