(1) Information provided to the department by an applicant for a license or by a licensee or information required by statute or by the department's rules, orders, or license conditions to be maintained by the applicant or the licensee must be complete and accurate in all material respects.

(2) Each applicant or licensee must notify the department of information identified by the applicant or licensee as having for the regulated activity a significant implication for public health and safety. An applicant or licensee violates this subsection only if the applicant or licensee fails to notify the department of information that the applicant or licensee has identified as having a significant implication for public health and safety. Notification must be provided to the department within two working days of identifying the information. This requirement is not applicable to information which is already required to be provided to the department by other reporting or updating requirements.