429.(1) Without prejudice to the provisions of this Act, where,—
(a) the research association, University, college or other institution
referred to in section 45(3)(a) or the company referred to in section 45(3)(b)
fails to deliver or cause to be delivered the documents asmay beprescribed in
section 45(4)(a) within the time asmay beprescribed therein or furnish a
certificate as may be prescribed under section 45(4)(a); or
(b) the institution or fund fails to deliver or cause to be delivered a
statement under section354(1)(e),within the time asmay beprescribed under
that section, or furnish a certificate asmay be prescribed under section
354(1)(g),
it shall be liable to pay, by way of fee, a sum of ?200for every day during which
the failure continues.
(2)The amount of fee referred to in sub-section (1) shall,—
(a)not exceed the amount in respect of which the failure referred to
therein has occurred;
(b)be paid before delivering or causing to be delivered the statement or
before furnishing the certificate referred to in sub-section (1). |