Paragraph 2 I1

For section 53(5) (offences: penalties) there is substituted—

“(5)

A person who is guilty of an offence under this section shall be liable—

(a)

on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding £20,000, or both; or

(b)

on conviction on indictment, to imprisonment for a term not exceeding two years or a fine, or both;

and in determining the amount of any fine to be imposed on a person convicted of an offence under this section, the court shall in particular have regard to any financial benefit which has accrued or appears likely to accrue to him in consequence of the offence.”