An officer not below the rank of an Inspector-General may, in the prescribed manner, proceed against an officer of or below the rank of a Squadron Commander, who is charged with an offence under this Act, and award one or more of the following punishments, that is to say,—
          (a) forfeiture of seniority, or in the case of any of them whose promotion depends upon length of service, forfeiture of service for the purpose of promotion for a period not exceeding one year, but subject to the right of the accused previous to the award to elect to be tried by a General Security Guard Court;
          (b) severe reprimand or reprimand;
          (c) deduction from pay and allowances of any sum required to make good any proved loss or damage occasioned by the offence of which he is convicted.