Any of the following persons shall be punished by a fine not exceeding 100 million won:
1. A person who fails to file a report on the establishment of, or conversion into, a holding company or files a false report thereon in violation of Article 17;
2. A person who fails to submit a report on the business details of the relevant holding company, etc. or submits a false report thereon in violation of Article 18(7);
3. A person who fails to file a report on the current status of shareholdings or the current status of debt guarantees or files a false report thereon in violation of Article 30(1) and (2);
4. An appraiser under Article 81(1)2 who gives a false appraisal.