(1) If any person does any act in violation of this Act or any notice, order or direction issued under this Act, the person shall be liable to the punishment of fine equal to the amount in question or imprisonment for a
term not exceeding six months or both.
Explanation: For the purposes of this Section, the term “amount in question” means the amount of investment made abroad in violation of this Act or any notice, order or direction issued under this Act.
(2) If a person who has been punished for any offense punishable under sub-section (1) continues any act constituting the offense even after the receipt of a notice of the order of that punishment, the person shall be
liable to the fine of fifty rupees for each such day.