(1) An administrator shall not issue shares or a person owning or having an interest in shares in the administrator shall not transfer or otherwise dispose of or deal in those shares or that interest, unless—
(a) the Minister has given his or her approval to the issue, transfer, disposal or dealing; or
(b) the Minister has in respect of the administrator waived the obligation to obtain that approval, and any conditions of the approval or waiver are complied with.
(2) An administrator who contravenes subsection (1) commits an offence, and is liable on conviction to a fine of $100,000 or to imprisonment for a term not exceeding 3 years or to both.