The First Schedule to the principal Act is amended by deleting subparagraph (4) of paragraph 7 and substituting therefore the following – “(4) Where a person specified in subparagraph (1), (2) or (3) contravenes that subparagraph, that person is guilty of an offence and is liable - (a) on summary conviction to a fine of five thousand dollars; or (b) on conviction on information to a fine of one hundred and twenty thousand dollars.”.