(1) Upon receipt of an application by the Authority, the Authority may cause investigations to be carried out to verify any statement contained in the application.
(2) A person who refuses to answer any question for the purposes of an investigation under this Act, or who knowingly gives any information which is false or inaccurate commits an offence and is liable on summary conviction to a fine of $5,000 or to imprisonment for a term not exceeding one year or to both.