Amount of Penalty to be imposed

(1) In determining the amount of penalty to be imposed, the Registrar shall take into consideration the nature, circumstances, extent and gravity of the prohibited act or acts committed and its financial and economic impact on the fishing industry and the environment. With respect to the violators, the degree of culpability, any history of previous offenses relating to fishing and such other matters that may be relevant in accordance with the Sanction Regulation. 54 (2) The maximum penalty that may be imposed for any offence under this Act shall be three million dollars.