271BB. [ Failure to subscribe to the eligible issue of capital. [Inserted by Act 12 of 1990, Section 43 (w.r.e.f. 1.4.1990).]
- Whoever fails to subscribe any amount of subscription to the units issued under any scheme referred to in sub-section (1) of section 88-A to the eligible issue of capital under that sub-section within the period of six months specified therein, may be directed by the ][Joint Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Deputy Commissioner" (w.e.f. 1.10.1998).][to pay, by way of penalty, a sum equal to twenty per cent. of such amount. ] [Inserted by Act 12 of 1990, Section 43 (w.r.e.f. 1.4.1990).]
