Section 7
Penalty for contravention of section 5.
The Specified Bank Notes (Cessation of Liabilities) Act, 2017
About this Act
An Act to provide in the public interest for the cessation of liabilities on the specified bank notes and for matters connected therewith or incidental thereto.
Whoever contravenes the provisions of section 5 shall
be punishable with fine which may extend to ten thousand rupees or five times the amount of the face
value of the specified bank notes involved in the contravention, whichever is higher.