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Forfeiture by person holding annuity or insurance exceeding the maximum or making false declaration.
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11. (1.) If any one person by his own act holds or claims to be entitled to any savings bank annuities or insurances, whether granted before or after the passing of this Act, which exceed in the whole the maximum annuity or insurance allowed by this Act to be granted to any one person, such person shall be liable, in the discretion of the National Debt Commissioners, to forfeit the whole or any part of such annuities or insurances.
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(2.) Any person who makes a false declaration in relation to any matter or thing required by the Government Annuities Acts, 1853 and 1864, or by this Act, or by the regulations made in pursuance of the said Acts, or any of them, or produces any false declaration or certificate, shall be liable, in the discretion of the National Debt Commissioners, to forfeit the whole or any part of the savings bank annuity or insurance to which such false declaration or certificate related or for the purpose of obtaining which it was made or produced, and all or any part of the money paid for obtaining such annuity or insurance, and the National Debt Commissioners may in lieu of all or any part of such forfeiture, adjust the contract made by such person so as to be in accordance with what it would have been if such false declaration or certificate had not been made or produced.
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(3.) If a person makes any such false declaration as aforesaid knowing the same to be false in any material particular, he shall, in addition to such forfeiture, be liable on conviction to imprisonment, with or without hard labour, for a period not exceeding twelve months.
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