27.—(1) Subject to paragraph 5 of Article 5 of the Convention, in each year such persons or classes of persons as may be prescribed by regulations of the Minister shall, in such manner and on or before such date as may be so prescribed, pay to the Fund such sums as may be determined by the Assembly of the Fund and certified by the Director of the Fund.

(2) A person who contravenes subsection (1) shall be guilty of an offence.