(1) A person shall not carry on a regulated business unless the person is the holder of an authorisation.
(2) A person who contravenes subsection (1) commits an offence and -
(a) if tried summarily, is liable on conviction to a fine not exceeding €2,000, or
(b) if tried on indictment, is liable on conviction to a fine not exceeding €100,000.
(3) A person who, after being convicted of an offence under subsection (2), continues to contravene subsection (1) commits a further offence on each day or part of a day during which the contravention continues and -
(a) if tried summarily, is liable on conviction to a fine not exceeding €200 for each such day or part of a day, or
(b) if tried on indictment, is liable on conviction to a fine not exceeding €7,500 for each such day or part of a day.
(4) This section does not have effect in relation to a person who carries on a money transmission business until 6 months after the commencement of section 27 of the Central Bank and Financial Ser
…