Offences arising from breach of regulations 20 and 2122
1
If the other party to the contract makes a false statement under paragraph (4) of regulation 20 or paragraph (3) of regulation 21 he shall be guilty of an offence.
2
If the other party to the contract applies monies released to him on the basis of a statement made by him under regulation 21(3)(a) or (c) for a purpose other than that mentioned in the statement he shall be guilty of an offence.
3
If the other party to the contract is guilty of an offence under paragraph (1) or (2) of this regulation shall be liable—
a
on summary conviction to a fine not exceeding level 5 on the standard scale; and
b
on conviction on indictment, to a fine.