12. Amendment of section 341 of the principal enactment

Section 341 of the principal enactment is hereby amended by the repeal of subsection (3) thereof and the substitution therefor, of the following: -

“(3) Within one week from the date of the meetings referred to in subsection (1), or where no such meetings are held on the same date, from the date of the subsequent meeting, the liquidator shall send to the Registrar a copy of the accounts and shall make a return to him confi rming the fact of the holding of the meetings and of their dates, and where the copy is not sent or the return is not made in accordance with the provisions of this subsection, the liquidator shall be guilty of an offence and on conviction, be liable a fi ne not exceeding fi fty thousand rupees .”.