Insurance Ordinance

(1)
A person commits an offence if the person, in connection with an application for
                the approval under
section
                    15AAAB(2
)(
a)
—
(Amended
20 of 2023 s. 28
)
(a)
makes a statement that is false or misleading in a material particular;
                    and
(b)
knows that, or is reckless as to whether, the statement is false or
                    misleading in the material particular.
(2)
A person commits an offence if the person, in connection with an application for
                the approval under
section
                    15AAAB(2
)(
a)
—
(Amended
20 of 2023 s. 28
)
(a)
omits a material particular from a statement with the result that the
                    statement is rendered false or misleading; and
(b)
knows that, or is reckless as to whether, the material particular is
                    omitted from the statement.
(3)
A person who commits an offence under subsection (1) or (2) is liable to a fine
                at level 5 and to imprisonment for 6 months.