159. (1) Any relevant person who knowingly, or recklessly, provides the MARA with information which is false or misleading in a material particular in his or her capacity as a relevant person shall be guilty of an offence and shall be liable—

(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months or both, or

(b) on conviction on indictment, to a fine not exceeding €50,000 or imprisonment for a term not exceeding five years or both.

(2) In this section, “relevant person” means—

(a) the case of a relevant application, the applicant, or

(b) a holder.