Clause 12
Repeal and re-enactment of section 56
of Futures Trading (Amendment) Bill
BillNot in forceProvision 12 of 12
Clause 12
Section 56 of the principal Act is repealed and the following section substituted therefor:“Penalties
56. Any person who contravenes any of the provisions of this Part shall be guilty of an offence and shall be liable on conviction —
(a)
in the case of a person who is not a body corporate, to a fine not exceeding $250,000 or to imprisonment for a term not exceeding 7 years or to both; or
(b)
in the case of a body corporate, to a fine not exceeding $500,000.”.