(1) A licensee or applicant for a licence commits an offence who, without reasonable excuse, fails to notify the Registrar of any change in circumstances as required by section 67.
(2) Every person who commits an offence against this section is liable,—
(a) in the case of an individual, to a fine not exceeding $10,000; or
(b) in the case of a company, to a fine not exceeding $50,000.