3.—(1) A credit institution, or other institution or establishment within Article 6(1) of the Community Regulation, which fails immediately to hand over to the relevant body (or to a person with authority to act on behalf of the relevant body for the purposes of this regulation) a euro note or euro coin received by that institution or establishment which it knows or has sufficient reason to believe to be counterfeit shall be guilty of an offence and liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum; or
(b)on conviction on indictment, to a fine.
(2) In paragraph (1), “the relevant body” means—
(a)in the case of euro notes, the Bank of England or the National Criminal Intelligence Service,
(b)in the case of euro coins, the Royal Mint or the National Criminal Intelligence Service.