55 (1) Every person or company that, (a)  makes a statement in any material, evidence or information submitted to the Commission, a Director, any person acting under the authority of the Commission or the Chief Executive Officer of the Commission or any person appointed to make an investigation or examination under this Act that, in a material respect and at the time and in the light of the circumstances under which it is made, is misleading or untrue or does not state a fact that is required to be stated or that is necessary to make the statement not misleading; (b)  makes a statement in any application, release, report, return, financial statement or other document required to be filed or furnished under Ontario commodity futures law that, in a material respect and at the time and in the light of the circumstances under which it is made, is misleading or untrue or does not state a fact that is required to be stated or that is necessary to make the statement not misleading; or (c)  contravenes Ontario commodity futures law, is guilty of an offence and on conviction is liable to a fine of not more than $5 million or to imprisonment for a term of not more than five years less a day, or to both.  1999, c. 9, s. 39; 2002, c. 22, s. 10 (1); 2021, c. 8, Sched. 9, s. 39 (25). Defence (2) Without limiting the availability of other defences, no person or company is guilty of an offence under clause (1) (a) or (b) if the person or company did not know and in the exercise of reasonable diligence could not have known that the statement was misleading or untrue or that it omitted to state a fact that was required to be stated or that was necessary to make the statement not misleading in light of the circumstances in which it was made.  1999, c. 9, s. 39. Same, ss. 60.0.1 and 60.0.2 (2.1) Without limiting the availability of other defences, no person or company is guilty of an offence for failing to comply with subsection 60.0.1 (6) or 60.0.2 (6) if the person or company did not know, and in the exercise of reasonable diligence could not have known, that the act or course of conduct in which the person or company engaged caused the person or company to fail to comply with a sanction, condition, restriction, requirement, order or agreement mentioned in those subsections. 2023, c. 21, Sched. 1, s. 3. Directors and officers (3) Every director or officer of a company or of a person other than an individual who authorizes, permits or acquiesces in the commission of an offence under subsection (1) by the company or person, whether or not a charge has been laid or a finding of guilt has been made against the company or person in respect of the offence under subsection (1), is guilty of an offence and is liable on conviction to a fine of not more than $5 million or to imprisonment for a term of not more than five years less a day, or to both.  1999, c. 9, s. 39; 2002, c. 22, s. 10 (2). Consent of the Commission (4) No proceeding under this section shall be commenced except with the consent of the Commission.  1999, c. 9, s. 39. Trial by provincial judge (5) The Commission or an agent for the Commission may by notice to the clerk of the court having jurisdiction in respect of an offence under this Act require that a provincial judge preside over the proceeding.  1999, c. 9, s. 39. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 39 - 14/12/1999 2002, c. 22, s. 10 (1, 2) - 7/04/2003 2021, c. 8, Sched. 9, s. 39 (25) - 29/04/2022 2023, c. 21, Sched. 1, s. 3 - 04/12/2023 56 Repealed:  1999, c. 9, s. 39. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 39 - 14/12/1999