(1) A person shall not —
(a) without reasonable excuse, fail or refuse to comply with a requirement specified in an information notice; or
(b) in purported compliance with an information notice furnish information to the Commissioner that the person knows to be false or misleading in a material respect.
(2) A person who contravenes subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding $25,000 or to a term of imprisonment not exceeding 6 months or to both.
(3) It is a defence for a person charged with an offence under this section to prove that he or she exercised all due diligence to comply with the information notice.