Subsection (3) of section 131 of the Merchant Shipping Act 1995 (which provides that a person guilty of an offence under that section shall be liable on summary conviction to a fine not exceeding £50,000 or on conviction on indictment to a fine) shall apply in respect of such contravention of the regulations made under this Order as may be specified in those regulations as it applies in respect of an offence under the said section 131.