Section 30

The terms and conditions of membership of a member institution shall be prescribed by regulations made under section 86.

A member institution shall comply with the terms and conditions as may be prescribed pursuant to subsection (1).

Any member institution which contravenes subsection (2) is guilty of an offence and liable on conviction to a fine not exceeding

$1,000,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.