(1) An investment company, management company or trustee which contravenes any provision of these Regulations shall be guilty of an offence.
(2) An auditor who contravenes any provision of these Regulations shall be guilty of an offence.
(2A) A person who contravenes the conditions of professional secrecy imposed by these Regulations shall be guilty of an offence.
(a) A person guilty of an offence under paragraph (1) or (2) shall be liable on summary conviction to a fine not exceeding £1,000 or, at the discretion of the court in the case of an individual, to imprisonment for a term not exceeding 12 months or to both.
(b) If the contravention in respect of which a person was convicted under such paragraph (a) is continued after the conviction that person shall be guilty of a further offence on every day on which the contravention continues and for each such offence the person shall be liable on summary conviction to a fine not exceeding £250 instead of the penalty specified f