(1) The Registrar may require any company registered under this Act or the director, manager, auditor, actuary or secretary thereof to furnish him or her, within such time as he or she may specify, with such information as may be necessary to ascertain the ability of the company to meet its obligations under policies issued by it.
(2) A company or any director, manager, auditor, actuary or secretary of a company who without reasonable excuse fails to comply with the requirements of subsection (1) commits an offence.