Penalty for contravention of sections 42 and 43

A company that wilfully contravenes section 42 or 43– (a) is liable to a penalty of $25 for each day or part thereof during which the contravention continues, and a director who knowingly permits the contravention is liable to a like penalty; and (b) without prejudice to paragraph (a), if the contravention continues for a period of 30 days the company shall be deemed to have commenced to wind-up and dissolve under