14. Section 52 of the principal Act is hereby repealed and the following new section substituted therefor:
| 52.
| | (1) Before the commencement of a prosecution under this Act, the bank may in writing require any person who in its opinion has committed an offence under this Act to pay as a penalty a sum not exceeding two thousand rupees, within such period as may be specified in the notification of such requirement. | | |
| | (2) Where the offence referred to in subsection (1) is concerned with any gold, currency, security, payment, goods or other property, and is not only a failure to give information or produce books, accounts or other documents with respect thereto when required so to do under section 39,-
| | | (a) the bank may in writing require such person to pay as a penalty within such period as may be specified in the notification of such requirement an additional sum not exceeding three times the amount or value of the gold, currency, security, payment, goods or property; and |
| (b) the bank may, if it thinks it fit so to do, in writing require gold, currency, security, goods or property to be delivered to the bank. |
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| | (3) Every requirement for delivery to the bank made under subsection (2) (6) shall be communicated to the person in whose possession the gold, currency, security, goods or property required to be delivered is, and such person shall, upon receipt of such communication, deliver to the bank such gold, currency, security, goods or property. | | |
| | (4) Any gold, currency, goods or property delivered to the bank under this section shall be dealt with or disposed of in such manner as the Minister may direct. | | |
| | (5) Any sum of money imposed as penalty under this section shall be disposed of in the following manner: -
| | | (a) one-half of that sum shall be forwarded to the Secretary to the Treasury to be credited to the Consolidated Fund; and |
| (b) the other half of such sum may be divided among any informer or informers who, in the opinion of the bank, supplied such information as led to the detection of the offence referred to in subsection (1), or may be credited to the Consolidated Fund. |
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| | (6) No person against whom a requirement is made by the bank under this section shall except with the permission of the bank, sell, hypothecate, alienate, transfer or dispose of in any manner whatsoever any immovable property or securities belonging to him until such requirement is complied with or until the expiry of a period of two months from the end of the period specified in such order, whichever is earlier: | | |
| | (7) Any person against whom a requirement is made by the bank under this section may, within twenty-one days after the notification of the requirement to him. appeal therefrom in writing to the Minister. The appeal shall state the grounds of objection to the requirement. | | |
| | (8) On an appeal made under subsection (7), the Minister may confirm. reduce, increase or annul the penalty imposed, or issue such directions in respect of the gold, currency, security, goods or property required to be delivered to the bank as he may think fit. | | |
| | (9) Where any person pays to the bank the penalty imposed under this section, or pays the penalty and delivers to the bank the gold, currency security goods or property required to be delivered to the bank under this section, as the case may be. such person shall not be liable to a prosecution for the offence in respect of' which the penalty was imposed or the requirement made. | | |
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Sri Lanka Consolidated Acts