Section 71
Punishment
(1) Any person who commits any of the following offenses shall be punished as follows:
(a) Any person who carries on the financial transactions without obtaining a license under this Act shall be punished with a fine not exceeding three hundred per cent of the amount involved in the transactions or with imprisonment for a term not exceeding three years or with both punishments, along with the confiscation of the amount involved in the said transactions.
(b) Any person who deals in foreign exchange in contravention of this Act or any other laws in force shall be punished with a fine not exceeding three hundred per
cent of the amount involved in the offense or with imprisonment for a term not exceeding three years or with both punishments.
(c) Any person who accepts deposits or supplies credit or issues debentures or other financial instruments in contravention of this Act or the order or directive issued
under this Act or pays or obtains interest in contravention of the term prescribed by the Rastra Bank shall be punished with a fine not exceeding two hundred per cent of the amount involved in the offense or with imprisonment for a term not exceeding two years or with both punishments.
(d) If any officer who is responsible for maintaining the secrecy of the financial transactions, accounts, records, ledgers, books and other accounts related documents of a licensed institution pursuant to this Act or the order or directive issued under this Act fails to maintain such secrecy, such officer shall be punished with a fine not exceeding five hundred thousand rupees or with imprisonment for a term not exceeding one year or with both punishments.
(e) Any person who commits the offense referred to in Clause
(c) of Section 70 shall be punished with a fine equal to the amount involved in the offense or with imprisonment for a term not exceeding one year or with both punishment, along with the confiscation of the amount involved in the offense.
(f) If it is not possible to confiscate, and determine the figure of, the amount involved in an act and action done and taken by any person in contravention of this Act, such person shall be punished with a fine not exceeding one million rupees or with imprisonment for a term not exceeding one year or with both punishment, according to the gravity of the offense.
(2) If any licensed institution or any other person, firm, company, or institution commits any offense referred to in Section 70, the concerned officer of such licensed person, firm, company or institution who commits such offense shall be subjected to the punishment as referred to in this Section.
(3) Any licensed institution or any other person, firm, company or institution that attempts to commit any offense referred to in Section 70 or aids and abets in the commission of such offense in any manner shall be subjected to punishment which is not more than half the punishment referred to in Sub-section (1).
(a) Any person who carries on the financial transactions without obtaining a license under this Act shall be punished with a fine not exceeding three hundred per cent of the amount involved in the transactions or with imprisonment for a term not exceeding three years or with both punishments, along with the confiscation of the amount involved in the said transactions.
(b) Any person who deals in foreign exchange in contravention of this Act or any other laws in force shall be punished with a fine not exceeding three hundred per
cent of the amount involved in the offense or with imprisonment for a term not exceeding three years or with both punishments.
(c) Any person who accepts deposits or supplies credit or issues debentures or other financial instruments in contravention of this Act or the order or directive issued
under this Act or pays or obtains interest in contravention of the term prescribed by the Rastra Bank shall be punished with a fine not exceeding two hundred per cent of the amount involved in the offense or with imprisonment for a term not exceeding two years or with both punishments.
(d) If any officer who is responsible for maintaining the secrecy of the financial transactions, accounts, records, ledgers, books and other accounts related documents of a licensed institution pursuant to this Act or the order or directive issued under this Act fails to maintain such secrecy, such officer shall be punished with a fine not exceeding five hundred thousand rupees or with imprisonment for a term not exceeding one year or with both punishments.
(e) Any person who commits the offense referred to in Clause
(c) of Section 70 shall be punished with a fine equal to the amount involved in the offense or with imprisonment for a term not exceeding one year or with both punishment, along with the confiscation of the amount involved in the offense.
(f) If it is not possible to confiscate, and determine the figure of, the amount involved in an act and action done and taken by any person in contravention of this Act, such person shall be punished with a fine not exceeding one million rupees or with imprisonment for a term not exceeding one year or with both punishment, according to the gravity of the offense.
(2) If any licensed institution or any other person, firm, company, or institution commits any offense referred to in Section 70, the concerned officer of such licensed person, firm, company or institution who commits such offense shall be subjected to the punishment as referred to in this Section.
(3) Any licensed institution or any other person, firm, company or institution that attempts to commit any offense referred to in Section 70 or aids and abets in the commission of such offense in any manner shall be subjected to punishment which is not more than half the punishment referred to in Sub-section (1).