PART IRestriction on Carrying on Insurance Business
Supplementary
11Offences under Part I
1
A person who carries on business in contravention of this Part of this Act shall be guilty of an offence.
2
A person who for the purpose of obtaining the issue of an authorisation furnishes information which he knows to be false in a material particular or recklessly furnishes information which is false in a material particular shall be guilty of an offence.
3
A person guilty of an offence under this section shall be liable—
a
on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine, or to both;
b
on summary conviction, to a fine not exceeding £400.
4
A body corporate or unincorporated body of persons shall not be taken to carry on insurance business in contravention of this Part of this Act by reason only of carrying on business for the purpose of discharging liabilities lawfully assumed by it before 27th July 1967.