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23. For regulation 32 (penalties for offences) substitute—
“32.—(1) A person guilty of an offence under any provision of Part 3 (Finance) or regulation 23 (finance: licensing offences) is liable—
(a)on summary conviction, to custody for a term not exceeding 12 months or to a fine not exceeding level 5 on the standard scale, or to both;
(b)on conviction on information, to custody for a term not exceeding 7 years or to a fine, or to both.
(2) A person guilty of an offence under regulation 9(6) (confidentiality) is liable—
(a)on summary conviction, to custody for a term not exceeding 12 months or to a fine not exceeding level 5 on the standard scale, or to both;
(b)on conviction on information, to custody for a term not exceeding 2 years or to a fine, or to both.
(3) A person guilty of an offence under regulation 25(6) or 29 (information offences in connection with Part 3) is liable on summary conviction to custody for a term not exceeding 6 months or to a fine not exceeding level 5 on the standard scale, or to both.
(4) In this regulation, “the standard scale” means the standard scale contained in section 55 of the Interpretation Act 2015 (of Tynwald).”
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