Holding out as registered insurance broker
13.—(1)  Any person who holds himself out to be a registered insurance broker in respect of any class of insurance business when he is not registered under this Act in respect of that class of business, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both 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.
(2)  Where an offence under subsection (1) is committed by a company or firm, every director, manager or officer of the company and the proprietor or every partner or officer of the firm shall, unless he proves that the holding out by the company or firm was made without his knowledge or consent, be guilty of the offence and shall be punished accordingly.