A person who, in connection with an application for a licence or for the renewal of a licence

(a) wilfully and knowingly makes a statement which is false or misleading in a material particular; or

(b) wilfully and knowingly omits to state a matter or tiling without which the application is misleading in respect of a material particular commits an offence and is liable on summary conviction to a fine of not less than one hundred and fifty penalty units and not more than two hundred and fifty penalty units or to a term of imprisonment of not less than one year and not more than two years or to both.