AI Summary of 38. Offences and penalties
Summary proceedings for offences under the specified Act may be initiated and prosecuted by the Bank. A person found guilty of an offence under sections 14(4), 20, 27(14), 32, 33(11), or 37(10) faces penalties of a class A fine upon summary conviction, or a fine not exceeding €100,000 upon conviction on indictment.
If a person continues to contravene the provisions after conviction for an offence under sections 14(4), 20, 27(14), 32 or 33(11), they are deemed guilty of a new offence for each day the contravention persists. For each of these offences, penalties include a class E fine on summary conviction, or a fine not exceeding €7,500 upon conviction on indictment.
38. Offences and penalties
(1) Summary proceedings for an offence under this Act may be brought and prosecuted by the Bank.
(2) A person who commits an offence under section 14(4), 20, 27(14), 32, 33(11) or 37(10) is liable -
(a) on summary conviction, to a class A fine, or
(b) on conviction on indictment, to a fine not exceeding €100,000.
(3) A person who, after conviction for an offence under section 14(4), 20, 27(14), 32 or 33(11), continues to contravene the provision concerned, shall be guilty of an offence on each day on which the contravention continues and for each such offence shall be liable -
(a) on summary conviction, to a class E fine, or
(b) on conviction on indictment, to a fine not exceeding €7,500.