4. Section 5 increases the penalties laid down under
section 12. The maximum fine on a conviction on indictment
for any offence (other than one under section 3) in Part II is
raised from $100,000 to $500,000.
The maximum fine on a summary
conviction is raised from $50,000 to $100,000. The fine for an
offence under section 3 is raised from $20,000 to $100,000.
principal Ordinance.
5. Section 6 adds a new section 12A to Part II of the
This new section provides that a person
suspected or convicted of conspiracy to commit any offence under
Part II shall be investigated, dealt with and punished as if
convicted of the substantive offence.
6.
Section 7 amends section 14 of the principal Ordinance --
(a) by extending the period in respect of which a person
served with a notice under sub-paragraph (1), (ii) or
(iii) of subsection (1)(a) need answer questions
contained in the notice from 1 year to 3 years.
Experience has shown that the present period of 1
year is too short for investigations involving the
use of section 14;
(b) by providing that a person served with a notice under
subsection (1)(d) or (e) must furnish not only such
information or documents specified in the notice as
are in his possession but also information or documents
to which he may reasonably have access (not being
information or documents readily available to the
public).
7.
Section 8 amends section 14A of the principal
Ordinance so, where a notice is served on a person under that
section and a copy of the notice is served on a bank or deposit-