67.This creates an offence of falsely describing oneself, or holding oneself out, as authorised or exempt in relation to a particular regulated activity.  It is a defence for a  person accused of this offence to prove that he exercised due diligence and took all reasonable precautions to avoid committing the offence.
68.Under subsection (3) a person found guilty of this offence is liable on summary conviction to a maximum of 6 months imprisonment and/or a fine not exceeding level 5 on the standard scale (currently £5,000).  If the offence results from the public display of material, subsection (4) permits a fine of up to the statutory maximum (currently £5,000), to be multiplied by the number of days for which any material giving rise to the offence was on public display.
Commentary on Sections Part Ii: Regulated and Prohibited Activities Section 24: False claims to be authorised or exempt