Penalties

(1) Every person who fails to comply with or contravenes any of the regulations made under this Act shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding ten thousand dollars or to imprisonment for a term not exceeding twelve months, or to both such fine and imprisonment, Provided that the punishment for a second offence under this section shall not be less than a fine of five thousand dollars or a term of imprisonment of not less than six months and the punishment for a third or subsequent offence under this section shall not be less than a term of six months imprisonment. (2) Where the offence is concerned with any currency, security, payment, gold, goods or any other property, and does not consist only of a failure to give information or to produce books, accounts or other documents with respect thereto when required to do so under any exchange control regulations, a larger fine may be imposed not exceeding three times the amount or value of the currency, security, payment, gold, goods, or property.