(1) A person appearing before the Head of Financial Regulation in compliance with an evidentiary notice commits an offence if the person -
(a) refuses or fails to give evidence in compliance with the evidentiary notice, or
(b) refuses or fails to answer a question put to the person by the Head of Financial Regulation or in cross-examination with the permission of the Head of Financial Regulation.
(2) Subsection (1) does not apply if the person has a reasonable excuse.
(3) It is a reasonable excuse for the purposes of subsection (2) for a person to refuse or fail to answer a question that the answer might tend to incriminate the person.
(4) Subsection (3) does not limit what is a reasonable excuse for the purposes of subsection (2).
(5) If a person alleges that he or she has a reasonable excuse for refusing or failing to give evidence, or refusing or failing to answer a question, he or she shall provide a written statement setting out details of the excuse to the Head of Financial Regul
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