Section 49

obtains a loan or guarantee from the Corporation under the provisions of this

Enactment by means of any false representation;

wilfully applies any loan made to him by the Corporation or made to him by any bank in pursuance of a guarantee given by the Corporation or the Government to any purpose other than the purpose for which the loan was made;

having obtained a loan from the Corporation or from a bank in pursuance of a guarantee given by the Corporation or the Government, wilfully destroys any security given in relation to any such loans, shall be guilty of an offence against this Enactment and shall, on conviction thereof, be liable to a fine of one thousand ringgit, and imprisonment for twelve months.

False statements.