(1) A credit institution or financial institution shall not set up an anonymous account for, or provide an anonymous passbook or safe-deposit box to, any customer.
(2) A credit institution or financial institution shall not keep any anonymous account, or anonymous passbook or safe-deposit box, that was in existence immediately before the commencement of this section for any customer.
(3) A credit institution or financial institution that fails to comply with this section commits an offence and is liable -
(a) on summary conviction, to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months (or both), or
(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years (or both).