Skip to main content
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 April 2007 - onwards
Version 3 of 3

63B. Offence.

(1) A person who purports to act as trustee of a scheme or trust RAC while prohibited from being a trustee of a scheme or trust RAC under section 59A or removed from being a trustee of a scheme or trust RAC under section 63 or suspended from being a trustee of a scheme or trust RAC under section 63A shall be guilty of an offence and shall be liable -

(a) on summary conviction to a fine not exceeding €5000 or to imprisonment for a term not exceeding one year, or to both,

(b) on conviction on indictment to a fine not exceeding €25,000 or to imprisonment for a term not exceeding two years, or to both.

(2) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC, as the case may be.