(1) A credit bureau shall not employ any person who —
(a) is an undischarged bankrupt;
(b) entered into a composition or scheme of arrangement with his or her creditor;
(c) was convicted of an offence involving fraud or dishonesty; or
(d) was removed from office under the provisions of this Act and the Regulations.
(2) Where a person referred to in subsection (1) is employed by a credit bureau, such a person —
(a) is disqualified from holding any post in the credit bureau; and
(b) upon such disqualification, that person shall be ineligible to hold office in, or continue in the employment of, any credit bureau.
(3) Where a credit bureau allows a disqualified person to continue acting as an officer or being in employment or is otherwise in breach of this section —
(a) the credit bureau commits an offence and is liable, on summary conviction, to a fine of $10 000 and in the case of a continuing offence is liable to a further fine of $2 000 for every day that the breach continues after conviction; and
(b) the disqualified person acting as an officer or employee of the credit bureau commits an offence and is liable, on summary conviction, to a fine of $10 000 or to imprisonment for a term of 6 months.