Section 18

A person must not hold out to be a financial adviser unless the person is a licensed financial adviser, an exempt financial adviser or a person specified in the First Schedule.

Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $7,500 for every day or part of a day during which the offence continues after conviction.[22