Section 23 in The Chartered Accountants (Amendment) Act, 2006
23. Amendment of section 26.-
In section 26 of the principal Act, for sub- section (2), the following sub- section shall be substituted, namely:-(2)Any person who contravenes the provisions of sub- section (1) shall, without prejudice to any other proceedings, which may be taken against him, be punishable on first conviction with a fine not less than five thousand rupees but which may extend to one lakh rupees, and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with fine not less ten thousand rupees but which may extend to two lakh rupees or with both.".
