370 Liability for false statements

(1) Unless otherwise provided in this Act, a person who makes a statement
in any document which is required to be filed or delivered to the Registrar

under this Act, which, at the time and in the light of circumstances under
which it is made, is false or misleading with respect to any material fact
or omits to state any material fact, the omission of which makes the
statement false or misleading, commits an offence and is liable on
conviction to a fine not exceeding US$50,000 or to imprisonment for a
term not exceeding 2 years or to both.

(2) It shall be a defence for a person accused of committing an offence under
subsection (1) to prove that the person did not know that the statement
was false or misleading, or could not reasonably have known that the
statement was false or misleading.