Lawgist56Penalties
(1) Whoever in any return, balance-sheet, or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine.
(2) If any person fails to produce any book, account or other document, or to furnish any statement or information which, under the provisions of this Act, it is his duty to produce or furnish, he shall be punishable with a fine which may extend to two thousand rupees in respect of each offence and in the case of a continuing failure, with an additional fine which may extend to one hundred rupees for every day during which the failure continues after conviction for the first such failure.
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- 51 Obligation as to fidelity and secrecy
- 52 Defects in appointment not to invalidate acts, etc
- 52A Agreement with National Bank on appointment of directors to prevail
- 53 Protection of action taken under the Act
- 54 Indemnity of directors
- 55 [Omitted]
- 56 Penalties
- 57 Offences by companies
- 58 Bankers' Books Evidence Act, 1891, to apply in relation to National Bank
- 59 Liquidation of National Bank
- 60 Power of Board to make regulations
- 61 [Repealed.]
- 62 Power to remove difficulty
