# Financial Services Act 1986 (repealed), Section 4: Offences.

Extent: E+W+S+N.I.

(1) Any person who carries on, or purports to carry on, investment business in contravention of section 3 above shall be guilty of an offence and liable—
(a) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both;
(b) on summary conviction, to imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum or to both.
(2) In proceedings brought against any person for an offence under this section it shall be a defence for him to prove that he took all reasonable precautions and exercised all due diligence to avoid the commission of the offence.

---
Source: https://www.legislation.gov.uk/ukpga/1986/60/section/4 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-repealed/section-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.