490. Removal or suspension of trustees; consequences.

A person who purports to act as trustee of a trust scheme1 while prohibited2 from being a trustee of the scheme or suspended3 in relation to the scheme is guilty of an offence and liable on summary conviction to a fine not exceeding the statutory maximum4, and on conviction on indictment to a fine or imprisonment, or to both5.

Such an offence may be charged by reference to any day or longer period of time; and a person may be convicted of a second or subsequent such offence by reference to any period of time following the preceding conviction of