Section 88 — Offences under this Part

(1)A person that —

(a)without reasonable excuse, refuses or fails to comply with an order under section 87(1)

(b),

(c)or

(d); (b) in purported compliance with an order made under section 87(1)(b) or (c), provides to the Authority or transmits to a regulatory authority any material or copy of material known to the person to be false or misleading in a material particular; or (c) in purported compliance with an order made under section 87(1)(d), makes a statement to the Authority that is false or misleading in a material particular, shall be guilty of an offence.

(2)A person that is guilty of an offence under subsection (1)(a) shall be liable on conviction —

(a)in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction; or

(b)in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.

(3)A person that is guilty of an offence under subsection (1)(b) or (c) shall be liable on conviction —

(a)in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or

(b)in any other case, to a fine not exceeding $100,000.