(1) No licensed financial institution shall engage in advertising practices which are likely to mislead the public concerning —
(a) the relationship of the licensed financial institution to the Central Bank or any department or official of the Central Bank;
(b) the interest rate paid on deposits or charge on credit;
© the insured or guaranteed status of deposits or other liabilities of the licensed financial institution;
(d) the financial condition of the licensed financial institution.
(2) Any licensed financial institution which contravenes subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding $50,000 for each contravention.