The Banking (Gibraltar) Regulations 1999

Penalties

3.  A person who is guilty of an offence under any of the following provisions, namely–

(a) subsection (11) of section 39 of the Banking Act 1987(1) (power to obtain information and require production of documents), as modified by paragraph 8 of Schedule 8 to the Banking Coordination (Second Council Directive) Regulations 1992(2),

(b) subsection (3) of section 40 of that Act (right of entry to obtain information and documents), as modified by paragraph 9 of that Schedule, or

(c) subsection (9) of section 41 of that Act (investigations on behalf of the Financial Services Authority), as modified by paragraph 10 of that Schedule, by virtue of regulation 2 above shall not be liable to imprisonment for a term exceeding three months.

(1)

1987 c. 22. Section 39 was amended by regulation 36 of S.I. 1992/3218, subject to regulation 46(a). Section 41 was amended by regulation 37 of S.I. 1992/3218, subject to regulation 46(a). Sections 39, 40 and 41 were also amended by paragraph 11 of Schedule 5 to the Bank of England Act 1998 (c. 11).

(2)

Paragraphs 8, 9 and 10 of Schedule 8 were amended by section 70(1) of the Criminal Justice Act 1993 (c. 36).