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Furnishing false information, etc.
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120.—(1) A person who, in purported compliance with any provision of this Act or any regulation thereunder, provides an answer or explanation, makes a statement or produces, lodges or delivers any return, report, certificate, balance sheet or other document false in a material particular, knowing it to be false, or recklessly provides an answer or explanation, makes a statement or produces, lodges or delivers any such document false in a material particular shall be guilty of an offence.
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(2) Where a person is guilty of an offence under subsection (1) and the Court is of opinion that any act, omission or conduct which constituted that offence has—
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(a) substantially contributed to a society being unable to pay its debts,
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(b) prevented or seriously impeded the orderly winding up of the society, or
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(c) substantially facilitated the defrauding of the creditors of the society or creditors of any other person,
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that person shall be liable on conviction on indictment to a fine not exceeding £50,000 or to imprisonment for a term not exceeding 7 years or to both.
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(3) (a) An officer of a society who destroys, mutilates or falsifies, or is privy to the destruction, mutilation or falsification of any record or document affecting or relating to the property or affairs of the society, or makes or is privy to the making of a false entry therein, shall, unless he proves that he had no intention to defeat the law, be guilty of an offence.
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(b) Any such person as is mentioned in paragraph (a) who fraudulently parts with, alters or makes an omission in any such record or document, or who is privy to the fraudulent parting with, altering or making of an omission in any such record or document, shall be guilty of an offence.
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(4) Where a person is guilty of an offence under subsection (3) that person shall be liable on conviction on indictment to a fine not exceeding £50,000 or to imprisonment for a term not exceeding 7 years or to both.
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