If any director or officer of the insurer or any other person fails to deliver to the Administrator any books of account, registers or any other documents, in his custody relating to the business of the insurer the management of which has vested in the Administrator, or retains any property of such insurer he shall be [liable to penalty of rupees ten thousand each day during which such failure continues or rupees ten lakh, whichever is less].]
Section 52F: Penalty for withholding documents or property from Administrator.
The Insurance Act, 1938Central Act · Act 4 of 1938
Where this provision sits
| Act | The Insurance Act, 1938 |
|---|---|
| Section | 52F |
| Marginal note | Penalty for withholding documents or property from Administrator. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted. . Subs. by s. 63, ibid., for "punishable with imprisonment which may extend to six months, or with fine which may extend to one thousand rupees, or with both" (w.e.f. 26-12-2014).
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