(1) A person who contravenes a relevant requirement imposed on that person is guilty of an offence and liable -
(a) on summary conviction -
(i) in England and Wales, to imprisonment for a term not exceeding three months, to a fine or to both;
(ii) in Scotland or Northern Ireland, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum or to both;
(b) on conviction on indictment, to imprisonment for a term not exceeding two years, to a fine, or to both.
(2) In deciding whether a person has committed an offence under paragraph (1), the court must decide whether that person followed -
(a) [deleted]
(b) any relevant guidance which was at the time -
(ii) issued by any other supervisory authority or appropriate body and approved by the Treasury.
(3) A person is not guilty of an offence under this regulation if that person took all reasonable steps and exercised all due diligence to avoid committing the offence.
(4) Where
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