A director who makes a declaration of solvency without having reasonable grounds for his or her opinion that the company will be able to pay its debts in full within the period stated in the declaration is guilty of an offence. If the debts of the company are not paid or provided for in full within the period stated in the declaration, it is presumed (unless the contrary can be shown) that a director who made a declaration did not have reasonable grounds for his or her opinion.