Section 46(4)(ii) in The Banking Regulation Act, 1949

[Cites 0, Cited by 1] [Section 46(4)] [Section 46] [Entire Act]

Union of India - Subsection

Section 46(4)(ii) in The Banking Regulation Act, 1949

(ii)carrying out the terms of, or the obligations under, a scheme sanctioned under sub-section (7) of section 45, by any person, such person shall be punishable with fine which may extend to [one crore rupees] [or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, and where a contravention or default is a continuing one, with a further fine which may extend to] [Substituted by Act 20 of 1994, Section 8, for certain words (w.e.f. 31.1.1994).] [one lakh rupees] [Substituted for the words "two thousand and five hundred rupees" by Act No. 4 OF 2013] for every day, during which the contravention or default continues.]

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 46(4)(ii) in The Banking Regulation Act, 1949