CLEARING AND SETTLEMENT SYSTEMS
ORDINANCE
(6) A person who fails to comply with a direction given under section 13(1) commits an offence and is liable—
- (a) on conviction upon indictment, to a fine of $400,000 and to imprisonment for 2 years; and
- (b) in the case of a continuing offence, to a further fine of $10,000 for every day during which the offence continues.
(7) It is a defence for a person charged with an offence under subsection (3), (5) or (6) to prove that—
- (a) the requirement, request or direction (as the case may be) to which the charge relates concerns an aspect of the management or operations of the designated system other than an aspect for which the person is responsible; or
- (b) he took all reasonable steps to ensure that the requirement, request or direction (as the case may be) to which the charge relates was complied with.
42. Contravention of provisions of Part 3
(1) A person who contravenes section 30(1) commits an offence and is liable on conviction upon indictment to a fine of $200,000 and to imprisonment for 1 year.
(2) A person who contravenes section 31 commits an offence and is liable on conviction upon indictment to a fine of $400,000 and to imprisonment for 2 years.
43. Contravention of provision of Part 4
A person who, without reasonable excuse, contravenes section 36(3) commits an offence and is liable on conviction upon indictment to a fine of $1,000,000 and to imprisonment for 2 years.
44. Contravention of provisions of Part 6
(1) A person who contravenes section 50(1) commits an offence and is liable on conviction upon indictment to a fine of $1,000,000 and to imprisonment for 2 years.
(2) A person who, knowing that a condition referred to in section 50(5) has been attached to a disclosure of information made pursuant to section 50(3) or (4), contravenes, or aids, abets, counsels or procures any person to contravene, that condition commits an offence and is liable on conviction upon indictment to a fine of $1,000,000 and to imprisonment for 2 years.
