Clause 23

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 5 years or to both” in subsection (1); and

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

if the person is an individual, and the information came to the person’s attention in the course of the person’s trade, profession, business or employment — to a fine not exceeding $250,000 or to imprisonment for a term not exceeding 5 years or to both;

if the person is an individual, but paragraph (a) does not apply — to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 5 years or to both; or (c)if the person is not an individual, to a fine not exceeding —

where a terrorism financing offence was committed, the higher of —

$1 million; or (B)twice the value of the property (including funds derived or generated from the property), financial services or other related services, or financial transaction (as the case may be) in respect of which the terrorism financing offence was committed; or

where no terrorism financing offence was committed, $1 million.”.