Regulation 59 Default in complying with regulations 55 to 58
(1)
A society shall be guilty of an offence if it makes default in complying with any of regulations 55 to 58 above.
(2)
A person shall be guilty of an offence if either—
(a)
he causes or permits to be included in a document deposited with the Commission under regulation 57(1) above a statement which he knows to be false in a material particular; or
(b)
he recklessly causes or permits to be so included a statement which is false in a material particular.
(3)
A person guilty of an offence under this regulation shall be liable—
(a)
on summary conviction in Great Britain, to a fine not exceeding level 5 on the standard scale; and
(b)
on summary conviction in Northern Ireland, to a fine not exceeding £2,000.