Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Provisions) Act, 1975

Penalties.

5.—(1) A person guilty of an offence under this Act shall be liable—

(a) on summary conviction, to a fine not exceeding £400, or

(b) on conviction on indictment, to a fine not exceeding £10,000, together with, in the case of an offence under section 3 or 4 of this Act which is a continuing offence, a further fine not exceeding £10,000 for each day upon which the offence is continued.

(2) (a) A person who is fined upon conviction of an offence under this Act shall not be liable to imprisonment in default of payment of the fine, but the court by which the person is convicted may by order direct that payment of the fine be secured by the seizure, entry into possession and, where necessary, sale of the property of the person by the appropriate sheriff or county registrar and may by order provide for such subsidiary and ancillary matters as may be necessary to secure such payment.

(b) In this subsection—

“property” includes shares, debentures and rights or interests in shares or debentures, securities of the Government, securities of any local authority and rights in respect of money lent to or deposited with any industrial and provident society, friendly society or building society but in the case of a fine on summary conviction, does not include land;

“shares” means shares in the share capital of a body corporate or stock of a body corporate.