Amendment status not verified — confirm the current text below against the official source.
(1) Every licensee shall within three 'months from Inventory of date on which an order undtr section I, sub-section (I), assets and information served on him, 01 such further time as may be allowed in regard to nment, piepare and hand over 10 them documenh ntory of all the assets belonging to his maintained of its documents. by the licensee. (2) The licensee shallalso write up t he accounts of his undertaking up to the vesting date, get t:~em audited, and submit themtc the Government within three monthsfrom that date or such further time as may be granted by the (3) The licensee shallalso, within such time as may be specifi~d by the Government, furrish to t h ~ m such infor- mation and particulars as may be required by the Govern- ment in rrgard to the documents relating to the under- (4) The licensee shall not destroy any G;-lunent relating to the undertaking and shall hand over to the Government on ibe vesting date all such documents ir cases falling under section 6, sub-section (I) and in case falling under section 6, sub-section (2), all such docuinent s as ape necessary for as ecrtaining the assets of the under- taking, the rights, liabilities and obligations attaching thereto oz: the terms of employment of the staff and fop determining the compensation payable for the under- taking ander this Act. (5) Where the documents aforesaid have been taken I possession of by the Govel nment , the licensee or any person authorized in this behalf, shall have access to such documents at all reasonable times and shall also be entitled to rake copies thereof or extracts thercfi om. or servant of the Government authorized Power 0 f nment in this behalf by general or special ny time, after giving the licensele reasonable ce, enter upon any land or premises in h's possessicn make any survey, examination, or investigation incidental to the purposes of this Act. 18 (1) Wlloever, being required to furnish any infor- Peneoi\lt;es* ion or makes any statement under this Act, furnishes information or riakes any statement which he knows 328 Ii%.clrir.i:j* Su~ply [lc)54: T,N. Act XXIX U/z(Ei>t'tnliing (Roy ui sit ioil) to be i'.C~ise, or wllozvcr wilCuJly hils tt:, hn tlci over to the Government any fixed assci belonging to the undertaking or wilfully suppresses or destroys any docu mcnt which is to be handed over to t 1 1 ~ Government ~incder sectioil 16, sub-seciluii (4), sl~all b; punisha blc with iinprisonment for a term which may extend to two yzars, or with fine which lnaycxtcnd to t wc:l~tytho~'isai~d rupee:; or with both and in thc case of 2 continuing oE~"rrcc wit11 an ajditional fini which lnay cxtcn~ll to iive hundred rupees, for every day after the first during which the ofi'cncc. c.ontinues. (2) Whoevzr rBil.r, without rcxson;iblc cause, to com- ply with any oft he provisions oft his Act or tile rules made thereunder, or any directions or orclsr ishued in pursuance t hereof,shall,if't he case be not governed by su b-section (I), be punishable with fine which may extend to twenty thou- sand rupees and in the case of a contirluing offence, with an additional fine which may extend to five hundred rupees,?or everydayaf'ter the first during wllich the offence continues. (3) Notwithstandi~lganyiIzirrg con !:lined in seclion 32 of t h ~ . Code c:C Criininal Procedure, 1898 (C'cnti-al Act V of 1898), it shall be lawful for any* Magislr~ktc of the First Class specially c~npo wct'cd by t flc Cover nnzcnt in this behalf or for ; ,ny s;~l:uicd* P r ~ s i d c ~ ~ c y Magi~tratc, to impos~ a sentcnce of' fine excccciing o12c thousand rupees when awarding punishment under sub-scct ion (1) or (2). (4) No Court shall take cognizance of an oRefenc~ punishablc und5r this section except wit11 the previous sanction of the Government or of an officer authcrized by them in this behalf. Offences by