5.—(1) Any person who, in relation to a charity which is not a company, fails to comply with regulation 4(1) or (2), as the case may be, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.
(2) Any person who, in relation to a charity which is a company, fails to comply with regulation 4(1) or (2), as the case may be, shall be guilty of an offence and shall be liable on conviction —
(a)
to the same penalty as that provided under section 204(1) of the Companies Act (Cap. 50); or
(b)
if the offence is committed with intent to defraud creditors of the charity, or creditors of any other person or for a fraudulent purpose, to the same penalty as that provided under section 204(3)(a) of that Act.
(3) In any proceedings against a person for an offence under this regulation relating to any omission from the financial statements, it is a defence to prove that the omission was not intentional and that the information omitted was immaterial and did not affect the giving of a true and fair view of the financial transactions and the state of affairs of the charity.