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Amendment of section 8 of Principal Act
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9. Section 8 of the Principal Act is amended—
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(a) in subsection (1), by the substitution of the following paragraph for paragraph (b):
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“(b) on conviction on indictment—
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(i) in the case of an undertaking that is not an individual, to a fine not exceeding the greater of €50,000,000, or 20 per cent of the turnover of the undertaking in the financial year ending in the 12 months prior to the conviction, or
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(ii) in the case of an individual, to a fine not exceeding whichever of the following amounts is the greater, namely, €50,000,000, or 20 per cent of the turnover of the individual in the financial year ending in the 12 months prior to the conviction or to imprisonment for a term not exceeding 10 years or to both such fine (that is to say a fine not exceeding the greater of the foregoing monetary amounts) and such imprisonment.”,
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and
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(b) in subsection (2), by the substitution of the following paragraph for paragraph (b):
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“(b) on conviction on indictment, to a fine not exceeding the greater of €50,000,000, or 20 per cent of the turnover of the undertaking in the financial year ending in the 12 months prior to the conviction.”.
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