Financial Services and Markets Act 2022 · s 50

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s 50Regulations for this Part

Regulations made under section 192 for this Part may prescribe —

(a)

that any contravention of a provision of the regulations shall be an offence punishable (despite section 192(2)(d)) —

(i)

in the case of an individual, with a fine not exceeding $125,000 or with imprisonment for a term not exceeding 3 years or with both and, in the case of a continuing offence, with a further fine not exceeding $12,500 for every day or part of a day during which the offence continues after conviction; or (ii)in any other case, with a fine not exceeding $250,000 and, in the case of a continuing offence, with a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction; and

(b)

for the purposes of sections 41(1)(c)(i) and 42(3)(a), different persons and different classes of persons in relation to different relevant financial institutions and different classes of relevant financial institutions.