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Power to prohibit payment of currency received in contravention of the Act [ Section 10 ] - FCRA Ready Reckoner - FEMAExtract Power to prohibit payment of currency received in contravention of the Act Where the Central Government make a inquiry as it may deem fit inquiry and after that he satisfied, any person has in his custody or control any - article or currency or security whether Indian or Foreign, which has been accepted by such person in contravention of any of the provisions of this Act, by order in writing, prohibit such person from paying , delivering, transferring or otherwise dealing with, in any manner whatsoever , such article or currency or security save in accordance with the written orders of the Central Government, and A copy of such order shall be served upon the person so prohibited in the prescribed manner, and there upon the provisions of sub-sections ( 2 ), ( 3 ), ( 4 ) and ( 5 ) of section 7 of the Unlawful Activities (Prevention) Act, 1967 shall apply to, or in relation to, such article or currency or security and references in the said sub-sections to moneys, securities or credits shall be construed as references to such article or currency or security. [ Section 10 of FCRA Act, 2010 ] Penalty for article or currency or security obtained in contravention of Section 10 [ Section 34 of FCRA Act, 2010 ] Type of Offence:- If any person, on whom any prohibitory order has been served under section 10 , pays, delivers, transfers or otherwise deals with, in any manner whatsoever, any article or currency or security, whether Indian or foreign, in contravention of such prohibitory order, Penalty:- He shall be punished with imprisonment for a term which may extend to three years, or with fine, or with both; and Notwithstanding anything contained in the Code of Criminal Procedure, 1973, the court trying such contravention may also impose on the person convicted an additional fine equivalent to the market value of the article or the amount of the currency or security in respect of which the prohibitory order has been contravened by him or such part there of as the court may deem fit. Power to impose additional fine where article or currency or security is not available for confiscation [ Section 36 of FCRA, 2010 ] Type of Offence:- Notwithstanding anything contained in the Code of Criminal Procedure, 1973, the court trying a person, who, in relation to any article or currency or security, whether Indian or foreign, does or omits to do any act which act or omission would render such article or currency or security liable to confiscation under this Act, may, in the event of the conviction of such person for the act or omission aforesaid, Penalty:- if such article or currency or security is available for confiscation (a) impose on such person a fine not exceeding five times the value of the article or currency or security or (b) one thousand rupees , whichever is more from (a) or (b) if such article or currency or security is not available for confiscation, and the fine so imposed shall be in addition to any other fine which may be imposed on such person under this Act.
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