(a) without reasonable excuse fails to comply with a direction given under section 52(2); or
(b) provides any information or makes any representation which is false in a material particular and which-
(i) he knows to be false in such particular; or
(ii) he has no reasonable ground to believe to be true in such particular,
to a liquidator,
commits an offence and shall be liable on summary conviction to a fine of $20000 and to imprisonment for 6 months.