Section 67
False statements regarding membership, insured deposits and insured policies
of Deposit Insurance and Policy Owners’ Protection Schemes Act 2011
(1)
No person may, knowingly or recklessly, make a false or misleading statement as to whether or not —
any person is a DI Scheme member;
any person is a PPF Scheme member;
any deposit or product is an insured deposit; or
any policy is an insured policy.
(2)
Any person who contravenes subsection (1) shall, even though a contract does not come into being, be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part of a day during which the offence continues after conviction.