Getting points deducted would be great. Everyone would be driving in bus and taxi lanes..... (no, you don't get points on your licence for driving in a bus and taxi lane)
Look at the signs at the beginning of bus lanes. If they have a time eg 7.30 - 10.30 - those are the times the bus lane in operation and in use. You can't use the bus lane between the those times, however out those times, you are allowed to use the bus lane. If the sign has no times, then the bus lane is constant use and can't be used any time of the day.
The consequences depend on many factors. My friend has used a bus lane on numerous occasions and hasn't been fined. So I guess those ones don't have cameras.