Section 61 Penalties and prosecution.

(1)

An individual guilty of insider dealing shall be liable—

(a)

on summary conviction, to a fine not exceeding the statutory maximum or imprisonment for a term not exceeding six months or to both; or

(b)

on conviction on indictment, to a fine or imprisonment for a term not exceeding F1ten years or to both.

(2)

Proceedings for offences under this Part shall not be instituted in England and Wales except by or with the consent of—

(a)

the Secretary of State; or

(b)

the Director of Public Prosecutions.

(3)

In relation to proceedings in Northern Ireland for offences under this Part, subsection (2) shall have effect as if the reference to the Director of Public Prosecutions were a reference to the Director of Public Prosecutions for Northern Ireland.

Annotations

Textual amendments

F1: Words in s. 61(1)(b) substituted (1.11.2021) by Financial Services Act 2021 (c. 22), ss. 31(1), 49(5) (with s. 31(3)(4)); S.I. 2021/1173, reg. 2

Notes on the whole Act

Textual amendments

F1: Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043), arts. 2, 3, 6 (with art. 3(2)(3), 4(2), 6(4)(5))

Notes on Part V

Modifications

C1: Pt. V (ss. 52-64) applied (E.W.N.I) (1.12.2001) by 2000 c. 8, s. 402(1)(a); S.I. 2001/3538, art. 2(1)