Part I Regulation of Deposit-Taking Business
Authorisations
C118 False statements as to authorised status.
1
No person other than an authorised institution shall—
a
describe himself as an authorised institution; or
b
so hold himself out as to indicate or be reasonably understood to indicate that he is an authorised institution.
2
No person shall falsely state, or do anything which falsely indicates, that he is entitled although not an authorised institution to accept a deposit in the course of carrying on a business which for the purposes of this Act is a deposit-taking business.
3
Any person who contravenes this section shall be guilty of an offence and 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 imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum or to both.
Authorisations
C118 False statements as to authorised status.
1
No person other than an authorised institution shall—
a
describe himself as an authorised institution; or
b
so hold himself out as to indicate or be reasonably understood to indicate that he is an authorised institution.
2
No person shall falsely state, or do anything which falsely indicates, that he is entitled although not an authorised institution to accept a deposit in the course of carrying on a business which for the purposes of this Act is a deposit-taking business.
3
Any person who contravenes this section shall be guilty of an offence and 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 imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum or to both.