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Regulation 2

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A credit institution, or other institution or establishment within Article 6(1) of the Community Regulation, which fails to withdraw from circulation a euro note or euro coin received by it which it knows or has sufficient reason to believe to be counterfeit shall be guilty of an offence and liable—

(a)

on summary conviction, to a fine not exceeding the statutory maximum or to three months’ imprisonment, or to both; or

(b)

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