Exchange Control Act, 1954

Offences, prosecutions and punishments.

20.—(1) Every person who contravenes (whether by act or omission) or attempts so to contravene any provision of, or any restriction or requirement imposed by or under, this Act shall be guilty of an offence under this section.

(2) Every person who aids, abets, assists, counsels or procures another person, or conspires with another person, to commit an offence under this section, shall himself be guilty of an offence under this section.

(3) Every person who, knowing that another person has committed an offence under this section, gives that person any assistance with intent thereby to prevent, hinder or interfere with the apprehension, trial or punishment of that other person for the offence shall himself be guilty of an offence under this section.

(4) Where an offence under this section or an offence consequent on section 18 is committed by a body corporate and is proved to have been so committed with the consent or approval of, or to have been facilitated by any neglect on the part of, any director, manager, secretary, or other officer of such body corporate, such director, manager, secretary, or other officer shall also be guilty of the offence.

(5) Every person who, being ordinarily resident in the State, commits, whether within or without the State, an offence under this section and every person who, not being ordinarily resident in the State, commits within the State an offence under this section shall—

(a) on summary conviction of the offence, be liable to a fine not exceeding five hundred pounds (together with, in the case of a continuing offence, a further fine not exceeding ten pounds for every day on which the offence is continued) or, at the discretion of the Court, to imprisonment for a term not exceeding six months or to both such fine and imprisonment, or

(b) on conviction of the offence on indictment, be liable to a fine not exceeding five thousand pounds (together with, in the case of a continuing offence, a further fine not exceeding fifty pounds for every day on which the offence is continued) or, at the discretion of the Court, to imprisonment for a term not exceeding two years or to both such fine and such imprisonment.

(6) Where a person is convicted of an offence under this section, the Court may, in addition to the punishment to which such person is liable under subsection (5) of this section, direct that any currency, any security, any gold, any goods or any other property, in relation to or by means of which the offence was committed, be forfeited, and anything so forfeited shall be disposed of in such manner as the Minister may direct.

(7) An offence consequent upon section 18 shall not be punishable under this section.