Clause 61

by deleting the words “and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both” in subsection (1);

by inserting, immediately after subsection (1), the following subsection:“(1A) Any person who is guilty of an offence under subsection (1) shall be liable on conviction —

in the case of an individual, to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both; or

in any other case, to a fine not exceeding $250,000.”;

by deleting subsection (2) and substituting the following subsection:“(2) Any person who is guilty of any breach of a duty imposed on him by this Act or any direction issued by the Authority under section 64(2) shall be guilty of an offence and, where no penalty is expressly provided, shall be liable on conviction —

in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction; or

in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.”;

by deleting the words “12 months” in subsection (4) and substituting the words “2 years”; and

by deleting subsection (6) and substituting the following subsections:“(6) The Authority may, in its discretion, compound any offence under this Act which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine that is prescribed for that offence.(7) The Authority may, in its discretion, compound any offence under this Act (including an offence under a provision that has been repealed) which —

was compoundable at the time the offence was committed; but(b)has ceased to be so compoundable,by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding one half of the amount of the maximum fine prescribed for that offence at the time it was committed.(8) On payment of such sum of money referred to in subsection (6) or (7), no further proceedings shall be taken against that person in respect of the offence.(9) All sums collected by the Authority under subsection (6) or (7) shall be paid into the Consolidated Fund.”.