Removal of imprisonment for specified company offence; penalty now limited to monetary fine only under amended provision. The amendment to section 242(8) removes the phrase imposing imprisonment and replaces the prior wording permitting a fine alone or with imprisonment so ... Summary
Removal of imprisonment for specified company offence; penalty now limited to monetary fine only under amended provision.
The amendment to section 242(8) removes the phrase imposing imprisonment and replaces the prior wording permitting a fine alone or with imprisonment so that the provision now prescribes a fine only for the specified contravention, thereby eliminating the possibility of concurrent custodial punishment under the clause.
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