(1) If the Director has reasonable grounds for believing a person is acting or carrying on business as a manager in contravention of section 23, the Director may instruct that person to give in respect of alleged contravention of section 23 to the Director such information or explanation as the Director may reasonably require to enable the Director to carry out his or her duty under this Act.
(2) A person who fails to comply with an instruction given to that person pursuant to subsection (1) commits an offence and is liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both.
(3) A person giving information or an explanation for the purpose of subsection (1) shall not give the Director information or an explanation that the person knows or should reasonably know is false or misleading.
(4) A person who contravenes subsection (3) commits an offence and is liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both.