16. For regulation 20 (penalties for offences) substitute—
“20.—(1) Paragraphs (3) and (4) apply to—
(a)Anguilla;
(b)British Antarctic Territory;
(c)British Indian Ocean Territory;
(d)Cayman Islands;
(e)Montserrat;
(f)Pitcairn, Henderson, Ducie and Oeno Islands;
(g)Turks and Caicos Islands;
(h)Virgin Islands.
(2) Paragraphs (5) and (6) apply to—
(a)Falkland Islands;
(b)St Helena, Ascension and Tristan da Cunha;
(c)South Georgia and the South Sandwich Islands;
(d)the Sovereign Base Areas of Akrotiri and Dhekelia in the Island of Cyprus.
(3) A person who commits an offence under any provision of Part 2 (Trade) is liable—
(a)on summary conviction, to imprisonment for a term not exceeding 6 months, or a fine not exceeding £5,000 or its equivalent in the currency of the Territory, or both;
(b)on conviction on indictment, to imprisonment for a term not exceeding 10 years, or a fine, or both.
(4) A person who commits an offence under regulation 17A (trade: information offences) is liable, on summary conviction, to a fine not exceeding £1,000 or its equivalent in the currency of the Territory.
(5) A person who commits an offence under any provision of Part 2 (Trade) is liable on conviction to imprisonment for a term not exceeding 10 years, or a fine, or both.
(6) A person who commits an offence under regulation 17A (trade: information offences) is liable on conviction to a fine not exceeding £1,000 or its equivalent in the currency of the Territory.
(7) Where a fine in this regulation is expressed to be a sum in sterling or its equivalent in the currency of the Territory, the Governor may issue guidance specifying how to calculate the amount in the currency of the Territory which is to be considered equivalent to that sum in sterling.”