# Insurance Companies Act 1982 (repealed), Section 81: Penalties and offences under Part III.

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

(1) Any person guilty of an offence under section 72, 73 or 74 above shall be 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—
(i) in England and Wales , to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 32 of the Magistrates’ Courts Act 1980;
(ii) in Scotland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 225(8)of the Criminal Procedure (Scotland) Act 1995,
(iii) in Northern Ireland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of Article 4 of the Fines and Penalties (Northern Ireland) Order 1984.
(2) Any person who makes default in complying with, or with a requirement imposed under, any other provision of this Part of this Act shall be guilty of an offence and liable, on summary conviction in England and Wales and Scotland to a fine not exceeding level 5 on the standard scale and, on summary conviction in Northern Ireland to a fine not exceeding £400.

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Source: https://www.legislation.gov.uk/ukpga/1982/50/section/81 (the official version)
Page: https://openlegislation.uk/insurance-companies-act-1982-repealed/section-81
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.