168. False statements regarding licence application

A person who, in connection with an application for the grant, renewal or variation of a licence, makes a statement that is false or misleading in a material particular knowing it to be false or misleading or wilfully omits to state any matter or thing without which the application is misleading in a material respect, is guilty of an offence and liable on conviction to a fine not exceeding $200,000, imprisonment for a term not exceeding 2 years or both.