Regulation 20

Any regulated institution which contravenes regulation 6(1) or (4), 8(1) or (2), 9(1), 12, 13(1), 14(1), 15(1), 16(1), 17, 18 or 19(4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part of a day during which the offence continues after conviction.

Any regulated institution which contravenes regulation 6(3)(a), 9(5)(a), 13(7)(a), 14(4)(a), 15(4)(a) or 16(4)(a) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.

Section 333(1) of the Act does not apply to any offence mentioned in paragraph (1) or (2).