(1) Any person guilty of an offence under these Regulations, being an offence created by Section 5 of the Markets in Financial Instruments and Miscellaneous Provisions Act 2007, is liable on summary conviction to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months or both.
(2) Paragraph (1) is without prejudice to any provision of the Markets in Financial Instruments and Miscellaneous Provisions Act 2007 that makes provision for that offence to be prosecuted on indictment.
(3) Where the contravention, failure to comply or failure to discharge a duty in respect of which a person is convicted of an offence under these Regulations is continued after the conviction, the person -
(a) is guilty of a further offence on every day on which the contravention or failure continues, and
(b) for each such further offence, is liable on summary conviction to a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months or both.