(1)  A person shall not hold, or be concerned in the holding of, or compete or take part in, any motor-vehicle race unless a permit for the holding thereof has been previously granted by the Commissioner, and then only in accordance with the terms and conditions specified in such permit.

(2)  A person who contravenes a provision of subsection (1) is guilty of an offence and is liable on summary conviction to a penalty not exceeding 5 penalty units.