Section 31 - Amendment of section 454 - Companies (Amendment) Ordinance, 2019

Amendment of section 454 31 . In section 454 of the principal Act, - (i) for sub-section (3), the following sub-section shall be substituted, namely: - (3) The adjudicating officer may, by an order- (a) impose the penalty on the company, the officer who is in default, or any other person, as the case may be, stating therein any noncompliance or default under the relevant provisions of this Act; and (b) direct such company, or officer who is in default, or any other person, as the case may be, to rectify the default, wherever he considers fit. ; (ii) in sub-section (4), for the words such company and the officer who is in default , the words such company, the officer who is in default or any other person shall be substituted; (iii) in sub-section (8),- (a) in clause (i), for the words ''does not pay the penalty imposed by the adjudicating officer or the Regional Director , the words, brackets and figures fails to comply with the order made under sub-section (3) or sub-section (7), as the case may be, shall be substituted; (b) in clause (ii)- (i) for the words Where an officer of a company , the words Where an officer of a company or any other person shall be substituted; (ii) for the words does not pay the penalty , the words, brackets and figures fails to comply with the order made under sub-section (3) or subsection (7), as the case may be, shall be substituted.