4. Section 4 of the principal enactment is hereby amended in subsection (1) of that section by the repeal of paragraph (iv) of that subsection, and the substitution therefor, of the following paragraph :
| " (iv) The person by whom the trust receipt was executed shall, if he commits a breach or fails to comply with any undertaking referred to in subsection (2) or subsection (3) of section 2, or in subsection (2) of section 3, as the case may be, being an undertaking contained in the trust receipt, be guilty of an offence and shall on conviction after summary trial before a Magistrate be liable to imprisonment of either description for a term not exceeding three years or to a fine not less than the amount of the money stated in the trust receipt to be due or to become payable thereunder to the agency and not exceeding three times that amount. ". |
|
|
Sri Lanka Consolidated Acts