(1) Any person who acts in contravention of any provision of this Decree, or the secretary and every director of a licensee, who, without reasonable excuse, acts in contravention thereof, or fails to comply with any requirement made under the provisions thereof, shall be guilty of an offence and, on summary conviction for a first offence, shall be liable to a fine not exceeding one thousand cedis or to imprisonment for a term not exceeding one year or to both such fine and imprisonment; and, on summary conviction for a second or subsequent offence, to a fine not exceeding four thousand cedis or to imprisonment for a term not exceeding two years, or to both such fine and imprisonment.

(2) In addition to any penalty prescribed by subsection (1) of this section, any person who fails to comply with any requirement made upon him under the provisions of this Decree shall incur a penalty of five hundred cedis, and, in the case of a licensee, double the amount of tax which has been undercharged, if any, in consequence of such failure.