Increase in maximum penalty under the Customs Act expands the statutory cap through proposed Finance Bill amendment. Clause 76 of the Finance (No. 2) Bill, 2019 amends the Customs Act by increasing the maximum limit of penalty under section 117, replacing the existing monetary cap with a higher statutory ceiling; the amendment adjusts only the quantitative penalty cap and does not modify the substantive offences or enforcement procedures.
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Increase in maximum penalty under the Customs Act expands the statutory cap through proposed Finance Bill amendment.
Clause 76 of the Finance (No. 2) Bill, 2019 amends the Customs Act by increasing the maximum limit of penalty under section 117, replacing the existing monetary cap with a higher statutory ceiling; the amendment adjusts only the quantitative penalty cap and does not modify the substantive offences or enforcement procedures.
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