§ Mr. Nicholas Wintertonasked the Chancellor of the Exchequer what are the penalties for contravening exchange control regulations.
§ Mr. Robert SheldonFull details will be found in the Fifth Schedule to the Exchange Control Act 1947 and in the Customs and Excise Act 1952.
Briefly the penalties are as follows, Where the offence is concerned with any currency, any security, any payment, any gold or any other property, a fine not exceeding three times the amount of value of the currency etc. and/or imprisonment for not more than—on summary conviction—three months or—on conviction on indictment—two years. A court may also order forfeiture of the currency etc. For other offences, a fine not exceeding £500 on summary conviction or £1,000 on conviction on indictment and/or imprisonment as above.