(1) Whosoever, in connection with an application for or for a continuance of credit or modification of the terms of credit for a business or enterprise or for a fictitious business or enterprise

1.

(a)  submits incorrect or incomplete documentation, in particular, calculations of balance, profit and loss, summaries of assets and liabilities or appraisal reports; or

(b)  makes incorrect or incomplete written statements,

about financial circumstances that are favourable to the credit applicant and relevant to the decision on such an application, to a business or enterprise; or

2.  does not inform a business or enterprise in the submission about any deterioration in the financial circumstances represented in the documentation or statements that are relevant to the decision on such an application,

shall be liable to imprisonment not exceeding three years or a fine.

(2) Whosoever voluntarily prevents the creditor from providing the credit applied for shall not be liable pursuant to subsection (1) above. If the credit is not provided regardless of the contribution of the offender he shall be exempt from liability if he voluntarily and earnestly makes efforts to prevent the credit from being provided.

(3) Within the meaning of subsection (1) above

1.  businesses and enterprises shall be those which require by their nature and size, but regardless of their purpose, a properly organised operation applying the appropriate commercial customs, rules and standards;

2.  credits shall be money loans of all kinds, acceptance credits, the acquisition for payment or the deferment of monetary claims, the discounting of promissory notes and cheques and the assumption of sureties, guarantees and other warranties.