Commonwealth Numbered Regulations

BANKING (FOREIGN EXCHANGE) AMENDMENT REGULATIONS 2007 (NO. 1) (SLI NO 71 OF 2007) - SCHEDULE 1

(regulation 3)

[1]           After regulation 5

insert

5A            Offence against directions

                It is an offence for a person to engage in conduct in contravention of a direction under:

                (a)    subregulation 5 (1); or

               (b)    subregulation 5 (2); or

                (c)    subregulation 5 (3).

Penalty:

(a)      if the offence is prosecuted summarily -- a fine not exceeding ten penalty units or imprisonment for a term not exceeding six months; or

(b)      if the offence is prosecuted upon indictment -- a fine not exceeding one thousand penalty units or imprisonment for a period not exceeding five years.

Note    See regulation 42 for other offences.