Penalties
Wilful neglect to make entry
27.  Any director, officer or employee of a trust company who wilfully and with intent to defraud neglects to make any entry in the books of the company which it is his duty to make shall be guilty of an offence and shall be liable on conviction before a District Court to imprisonment for a term not exceeding 2 years.
False statements in accounts
28.  Any director, officer or employee of a trust company who wilfully and with intent to defraud makes or abets the making of any false entry in the books of the company or subscribes or exhibits any false document with intent to deceive any person appointed under this Act to investigate the affairs and management of the company shall be guilty of an offence and shall be liable on conviction before a District Court to imprisonment for a term not exceeding 2 years.
Refusal to produce books
29.  Any director, officer or employee of a trust company who refuses to produce for examination to any person appointed under this Act to investigate the affairs and management of the company all books and documents relevant to the investigation which are in his custody or control shall be guilty of an offence and shall be liable on conviction before a District Court to a fine not exceeding $1,000 or to imprisonment for a term not exceeding 12 months or to both.
Neglect to forward annual statement
30.  Any trust company which makes default in forwarding to the Registrar the verified statement as required by section 21 shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50 for every day during which the default continues, in addition to any penalty which it may incur under the Companies Act [Cap. 50]; and any director or manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.