Credit Union Act 1997

Furnishing false information etc.

175

175. (1) Any person who, in purported compliance with any provision made by or under this Act—

( a) provides an answer or explanation, makes a statement or produces or delivers any return, certificate, balance sheet or other document which is false in a material particular and which he knows to be so false, or

( b) recklessly provides an answer or explanation, makes a statement or produces or delivers any return, report, certificate, balance sheet or other document which is false in a material particular,

shall be guilty of an offence.

(2) If the court by which a person is found guilty on indictment of an offence under subsection (1) is of the opinion that any act, omission or conduct which gave rise to that offence has—

( a) substantially contributed to a credit union being unable to pay its debts, or

( b) prevented or seriously impeded the orderly winding up of a credit union, or

( c) substantially facilitated the defrauding of creditors of a credit union or of any other person,

then, in place of the penalty provided by section 171(2)(b) , that person shall be liable on conviction on indictment to a fine not exceeding £10,000 or to imprisonment for a term not exceeding five years or both.