Regulation 42 Penalties for offencesI1
United Kingdom
A person who commits an offence under any provision of Part 3 (finance) or regulation 30 (finance: licensing offences) is liable—
on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);
on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);
on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);
on conviction on indictment, to imprisonment for a term not exceeding 7 years or a fine (or both).
A person who commits an offence under regulation 12(6) (confidentiality) or 31 (director disqualification: licensing offences) is liable—
on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);
on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);
on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);
on conviction on indictment, to imprisonment for a term not exceeding 2 years or a fine (or both).
A person who commits an offence under regulation 33(9) or (10) (finance: reporting obligations) or 38 (finance: information offences) is liable—
on summary conviction in England and Wales, to imprisonment for a term not exceeding 6 months or a fine (or both);
on summary conviction in Scotland, to imprisonment for a term not exceeding 6 months or a fine not exceeding level 5 on the standard scale (or both);
on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding level 5 on the standard scale (or both).
Annotations
Commencement
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Reg. 42 in force at 23.7.2025, see reg. 1(2)