(1) A vehicle insurer that does not make a contribution to the MIIC Fund under section 3F(1)(b) is guilty of an offence and -

(a) is liable on summary conviction to a class A fine or to imprisonment for a term not exceeding 12 months or to both, or

(b) is liable on conviction on indictment to a fine or to imprisonment for a term not exceeding 5 years or to both.

(2) Where an offence under this section is committed by a body corporate and it is proved that the offence was committed with the consent or connivance, or was attributable to any wilful neglect, of a person who, when the offence was committed, was a director, manager, secretary or other officer of the body corporate, or a person purporting to act in that capacity, that person, as well as the body corporate, is guilty of an offence and may be proceeded against and punished as if he or she were guilty of the first-mentioned offence.

(3) Where the affairs of a body corporate are managed by its members, subsection (2) applies in relation to the acts and defaults of a member in connection with his or her functions of management as if he or she were a director or manager of the body corporate.

(4) Summary proceedings for an offence under this section may be brought and prosecuted by or on behalf of the Bank.