Non-payment of a compounded sum nullifies the compounding application and revives statutory consequences for the foreign-exchange contravention. Failure to pay a compounded sum within the prescribed period causes the applicant to be deemed never to have applied for compounding of the relevant ... Summary
Non-payment of a compounded sum nullifies the compounding application and revives statutory consequences for the foreign-exchange contravention.
Failure to pay a compounded sum within the prescribed period causes the applicant to be deemed never to have applied for compounding of the relevant foreign-exchange contravention. The statutory provisions governing the underlying contravention then become applicable. Timely payment of the compounded amount is therefore necessary for the legal effectiveness of compounding.
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