Unit Trusts Act, 1972
Offences and punishments. |
21.—(1) Where, in relation to a unit trust scheme, there is a contravention of section 9 of this Act, the manager under the scheme shall be guilty of an offence. | |
(2) Where, in relation to a unit trust scheme, there is a contravention of section 11 or 12 of this Act, the manager and (except where the contravention consists of sending a copy of a document of the kind referred to in the said section 12 to the registrar without its having been signed by a director or the secretary of the trustee or sending a copy of such a document to a person specified in the said section 12 without having obtained the approval of the trustee for the document) the trustee under the scheme shall be guilty of an offence. | ||
(3) Where the manager under a unit trust scheme contravenes section 13 or 17 of this Act, he shall be guilty of an offence. | ||
(4) A person guilty of an offence under this Act (other than section 16 (6)) shall be liable— | ||
(a) on summary conviction, to a fine not exceeding one hundred pounds, or | ||
(b) on conviction on indictment, to a fine not exceeding five thousand pounds, | ||
and if the contravention or failure in respect of which he is convicted is continued after the conviction, he shall be guilty of a further offence and shall be liable on conviction on indictment to a fine not exceeding two hundred and fifty pounds for each day on which the contravention is so continued. |