V-1 - Securities Act

Section 102 Disposition versions

1977-12-31

102. Every person convicted of an offence against any provision of this act or the regulations or of any fraudulent act not punishable under the Criminal Code of Canada shall be condemned, in addition to the costs in all cases, for a first offence to a fine of not less than five hundred dollars nor more than ten thousand dollars and, in default of payment of the fine and costs, to imprisonment for not less than two months nor more than six months; and, for each subsequent offence, to a fine of not less than two thousand dollars nor more than twenty thousand dollars or to imprisonment for not less than six months nor more than two years, or to both penalties at the same time, and in default of payment of the fine and costs, to imprisonment for not less than six months nor more than two years.

The fines provided for in the preceding paragraph must also be imposed, in addition to the costs, when the offender is a company, but they may then be increased, at the discretion of the judge or court, up to fifteen thousand dollars for a first offence and twenty-five thousand dollars for each subsequent offence and the judge or court may order that in default of payment of the fine and costs by the company, such directors, officers or employees of the company as he may designate shall be bound to pay the same in the proportion which he indicates, failing which they shall be imprisoned for a period of not less than two months nor more than six months, for a first offence, and not less than six months nor more than two years for each subsequent offence.

R. S. 1964, c. 274, s. 84.