(1) A person commits an offence who, without reasonable excuse, fails to comply with a requirement to produce any papers, documents, records, or things in accordance with a notice given under section 85.
(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.