Clause 269

For the purpose of the preparation of a report that, by this Subdivision, is required to be signed by or on behalf of the directors, or persons approved by the Authority, of a borrowing corporation or any of them, that borrowing corporation may approve, may, by notice in writing, require any of its guarantor corporations to furnish it with any information relating to that guarantor corporation which is, by this Subdivision, required to be contained in that report; and that guarantor corporation shall furnish the borrowing corporation with that information before such date, being a date not earlier than 14 days after the notice is given, as may be specified in that behalf in the notice.

A guarantor corporation which fails to comply with a requirement contained in a notice given under subsection (1) and every officer of that corporation who is in default shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a continuing offence, to a further fine not exceeding $2,000 for every day or part thereof during which the offence continues after conviction.