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3(1)Any building society which furnishes any information or makes any statement which is false or misleading in a material particular in connection with an application for authorisation shall be liable, on conviction on indictment or on summary conviction, to a fine which, on summary conviction, shall not exceed the statutory maximum.
(2)Any person who knowingly or recklessly furnishes any information or makes any statement which is false or misleading in a material particular in connection with an application for authorisation shall be liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or both; or
(b)on summary conviction, to a fine not exceeding the statutory maximum.
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