Sorry, I was probably unclear. I think there are actually two categories. One is a set of misbehaviours: misuse of information, inappropriate acceptance of gifts, and so on. These are actual misbehaviours. If you do them, you've done something wrong. You're not merely in a conflict of interest.
If you step back conceptually, conflict of interest is different from those rules. Conflict of interest is about the potential to do something wrong. You have a private interest that could be furthered. Now what do you do? Do you step back or do you act on it? If you act on it, then you've crossed the behavioural line. So in the act there actually are two different sets of things.
In terms of the substantive penalties, I think there should be a range of penalties, ranging from apology to—for public office holders and cabinet ministers—dismissal. There needs to be, in a way, progressive discipline. There needs to be a range of things.
Now, there could be fines, but I think if you leave the fines the way they are, it's not going to amount to much.