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Whoever dishonestly commits a breach of the terms of any agreement, contract, guarantee or such other instrument or document executed by him in relation to privatisation shall, without prejudice to any other action which may be taken against him under this Ordinance or any other law for the time being in force, be punishable with imprisonment of either description for a term which may extend to one year and shall also be liable to fine, and the High Court trying the offence may order the delivery or payment, or refund, to the Commission, within a time to be fixed by it any property or the amount in respect of which any agreement, contract, guarantee, instrument or document was executed. |
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(2) |
Whoever knowingly makes a statement or a declaration which is false in material respect at the time of privatisation and obtains the subject-matter of the privatisation from the Commission on the basis thereof, shall be guilty of an offence punishable with imprisonment of either description for a term which may extend to one year, or with fine, or with both. |
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(3) |
Whoever resists or obstructs, either by himself or on behalf of the judgment debtor, through the use of force or otherwise the execution of a decree, shall be punishable with imprisonment which may extend to one year, or with fine, or with both. |
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(4) |
Where the person guilty of an offence under this Ordinance is a company or other body corporate, the chief executive by whatever name called, and any director or officer of the company involved shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly. |
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(5) |
All offences under this Ordinance shall be non-cognizable and compoundable by or under the authority of the Commission. |
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(6) |
The High Court shall not take cognizance of any offence under this Ordinance unless a complaint has been filed by the Commission or a person authorized by it in writing. |