20. False statements, information, etc.

Any person who, being required to make any statement or furnish any information or document under this Act —

makes any statement or furnishes any information or document which is false or misleading in a material particular; and

knows or ought reasonably to know that, or is reckless as to whether, it is false or misleading in a material particular,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.