AI Summary of 48. Offences of providing false or misleading information, etc.
This provision prohibits a person from providing to the Head of Financial Regulation or the Bank any information that the person knows or ought to know is false or misleading for the purposes of this Part. It also forbids giving the Head of Financial Regulation or the Bank any document that the person knows or ought to know is false or misleading or is not what it purports to be, including where provided in response to an evidentiary notice.
Persons carrying out, or proposing to carry out, a controlled function must not provide information or documents that they know or ought to know are false or misleading to a regulated financial service provider or a holding company if those materials are intended to be provided to the Head of Financial Regulation or the Bank. An examinee appearing before the Head of Financial Regulation must not, in answer to a question, make a statement that the examinee knows or ought to know is false or misleading in a material particular. Contravention of these provisions is an offence.
48. Offences of providing false or misleading information, etc.
(1) A person shall not provide to the Head of Financial Regulation or the Bank, for the purposes of this Part, information that the person knows or ought to know is false or misleading.
(2) A person who is carrying out, or proposes to carry out, a controlled function shall not provide information or a document that the person knows or ought to know is false or misleading to a regulated financial service provider or a holding company with a view to the information or document being provided to the Head of Financial Regulation or the Bank for the purposes of this Part.
(3) A person shall not give the Head of Financial Regulation or the Bank, for the purposes of this Part, a document (whether in response to an evidentiary notice or otherwise) that the person knows or ought to know is false or misleading or is not what it purports to be.
(4) A person (in this subsection called the "examinee") who is appearing before the Head of Financial Regulation shall not, in an answer to a question put by the Head of Financial Regulation or another person with the consent of the Head of Financial Regulation, make a statement that the examinee knows or ought to know is false or misleading in a material particular.
(5) A person who contravenes subsection (1), (2), (3) or (4) commits an offence.