Paragraph 5

United Kingdom

(1)

Any person who causes or permits to be included in a statement sent to the F1Treasury under paragraph 4 above any information which he knows to be false in a material particular or recklessly causes or permits to be so included any information which is false in a material particular shall be guilty of an offence and liable—

(a)

on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine, or to both;

(b)

on summary conviction, to a fine not exceeding £400.

(2)

Any insurance company which makes default in complying with paragraph 4 above shall be guilty of an offence and liable, on summary conviction, to a fine not exceeding F2level 5 on the standard scale.

(3)

F3Sections 37(2)(b)(i) and 54(1)(b) of the Insurance Companies Act 1982 (failure to satisfy an obligation under that Act to be a ground for the exercise by the F4Treasury or the Secretary of State of certain powers in relation to an insurance company) shall have effect in relation to F5an obligation imposed on an insurance company under paragraph 4 above as they have effect in relation to obligations imposed on an insurance company under that Act.

(4)

F6Sections 91 to 94 of the Insurance Companies Act 1982 shall apply in relation to an offence committed or alleged to have been committed under this paragraph as they apply in relation to an offence committed or alleged to have been committed under that Act.

(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7

Annotations

Textual amendments

F1: Words in Sch. 3 para. 5(1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 99 (with art. 7)
F2: Words substituted by (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1), ss. 38, 46, (S.) Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1), ss. 289F, 289G and (N.I.) S.I. 1984/703 (N.I. 3), arts. 5, 6
F3: Words substituted by Insurance Companies Act 1982 (c. 50, SIF 67), s. 99(2), Sch. 5 para. 16(e)
F4: Words in Sch. 3 para. 5(3) inserted (5.1.1998) by virtue of S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 105(b) (with art. 7)
F5: Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 210(3)
F6: Words substituted by Insurance Companies Act 1982 (c. 50, SIF 67), s.99(2), Sch. 5 para. 16(f)
F7: Sch. 3 para. 5(5) repealed by Insurance Companies Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(a)

Act continued for certain purposes (subject to modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9, 11, Sch. 1 Pt. I; S.I. 2001/3538, art. 1(2)

Notes on Schedule 3

Modifications

C1

Power to amend Sch. 3 conferred by Insurance Companies Act 1982 (c. 50, SIF 67), s. 67(4)

Sch. 3: functions made exercisable by, or by employees of, such person as may be authorised in that behalf by the Treasury (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 63(e)