- Whoever in contravention of the provisions of section 3,-(a)makes a contract relating to jute goods, or pays or receives, as the case may be, margin, or(b)being the owner or occupier of any premises, knowingly permits such premises to be used for the making of a contract relating to jute goods or for the payment or receipt of margin,shall, on conviction, be punishable with imprisonment which may extend to one year, or with fine which may extend to one thousand rupees, or with both.
