A person who fails to maintain proper records as required under this Act and regulations made under this Act commits an offence and is liable on summary conviction to-
(a) a fine not exceeding ₵10 million or to imprisonment not exceeding 5 years or to both where the failure was deliberate or reckless; or
(b) in any other case, to a fine not exceeding ₵5 million cedis or to imprisonment not exceeding one year or to both.