(1) A person who fails-
(a) to apply for registration as required under section 5; or
(b) to notify the Commissioner of a change in his business as required under section 7; or
(c) to apply for cancellation of registration as required under section 8 commits an offence.
(2) Where the failure is deliberate or reckless he shall be liable on summary conviction to a fine not exceeding c10 million or imprisonment for a term not exceeding five years or to both and where the failure is for any other reason, to a fine not exceeding c5 million or imprisonment for a term not exceeding one year or to both.