(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.
Modifications etc. (not altering text)
C1S. 18 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para.6.
(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.
Modifications etc. (not altering text)
C1S. 18 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para.6.