Clause 5

Section 11 of the principal Act is amended by inserting, immediately after subsection (6), the following subsections:“(7) Any person who gives any incorrect information in relation to any matter affecting the amount of tax chargeable under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 6 months, and the court shall order him to pay to the Registrar the amount of tax which has been undercharged.(8) The Registrar may, in his discretion, compound any offence punishable under subsection (7) by collecting from the person reasonably suspected of having committed the offence a sum of money not exceeding $1,000 and the amount of the tax undercharged, and may before judgment stay or compound any proceedings thereunder.”.