Penalty cap for offences under section 446B reduced to a fraction of the prescribed penalty, limiting maximum liability. The amendment substitutes the prior phrase making defaults "punishable with fine" and referring to penalties "specified in such sections" with wording ... Summary
Penalty cap for offences under section 446B reduced to a fraction of the prescribed penalty, limiting maximum liability.
The amendment substitutes the prior phrase making defaults "punishable with fine" and referring to penalties "specified in such sections" with wording that an offender shall be liable to a penalty which shall not be more than one-half of the penalty specified in such sections, thereby imposing a reduced penalty ceiling relative to the penalties previously prescribed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.