Section 124A (inserted by the Finance Act 2003) of the Finance Act 2001 is amended by substituting the following for subsection (1):
"(1) An authorised warehousekeeper who contravenes or fails to comply with -
(a) any condition imposed on him or her under section 109(5), or
(b) any requirement imposed on him or her under -
(i) this Part,
(ii) the Finance (Excise Duty on Tobacco Products) Act 1977,
(iii) Chapter 1 of Part 2 of the Finance Act 1999,
(iv) Chapter 1 of Part 2 of the Finance Act 2003, or
(v) any regulation made under the provisions referred to in subparagraphs (i) to (iv),
is liable to a penalty of €1,500 for each such contravention or failure.".