(1) A person shall be guilty of an offence if the person -
(a) knowingly or recklessly makes a false or misleading statement in an application for authorisation to operate as a payment institution, or
(b) makes a false or misleading statement to the Bank in relation to -
(i) the obtaining of an authorisation to operate as a payment institution, or
(ii) an approval, waiver or permission from the Bank concerning the operation of a payment institution.