Offence, false and misleading information

A person who, for any purpose of these Regulations– (a) provides any makes any representation or submits any document or return that he knows to be false or materially misleading or does not believe to be true; or (b) recklessly provides any information, makes any representation or submits any document or return that is false or materially misleading, commits an offence and is liable on summary conviction to a fine not exceeding $50,000 or Money Laundering and 32 Terrorism (Prevention) to imprisonment for a term not exceeding 2 years, or to both.