Cap. 487 Art. 52Offences.

(1) Any person -

(a) who for the purpose of obtaining the registration or enrolment unde3.3.r this Act or any regulations,

Insurance Distribution Rules or Conduct of Business Rules made thereunder, furnishes information or makes a statement or a declaration which the person knows to be inaccurate, false or misleading in any material particular, or recklessly furnishes information or makes a statement or a declaration which is inaccurate, false or misleading in any material particular; or

(b) who contravenes or fails to comply with any of the provisions of this Act as specified in regulations issued under this article;

(c) who is knowingly a party to the carrying out of insurance distribution activities or reinsurance distribution activities, with a fraudulent intent or for a fraudulent purpose; or

(d) who without any reasonable excuse alters, suppresses, conceals, destroys or refuses to produce any document which is lawfully required to be produced by any person under this Act and any regulations made thereunder; or

(e) who intentionally obstructs a person exercising rights conferred by this Act or any regulations, Insurance Distribution Rules or Conduct of Business Rules made thereunder, shall be guilty of an offence.

(2) Any person who is knowingly a party to, or procures or aids and abets the commission of any offence under sub-article (1) shall be guilty of an offence and shall be liable to the same penalties as the principal offender.

(3) The Minister shall make regulations under this article prescribing penalties for offences against this Act, and such regulations may prescribe -

(a) penalties which are enforceable by prosecution in the courts of Malta;

(b) different penalties for contraventions of different