False statements and obstruction

Any director or officer of a licensee or financial holding company who with intent to deceive– (a) makes any false or misleading statement or entry, or omits any statement or entry that should be made in any book, account, report or statement of the licensee or financial holding company; or (b) obstructs or endeavors to obstruct the proper performance by an auditor of his duties in accordance with the provisions of this Act, or a lawful examination of the licensee by the Central Bank or a duly authorized examiner appointed by the Central Bank under section 107 commits an offence and on summary conviction, shall be liable to pay to the Central Bank a fine not exceeding one hundred thousand dollars and a fine not exceeding ten thousand dollars for each day of such failure.