Penalty for breach of the provisions of the Act.

Whoever contravenes any of the provisions of the Act or of any rule or regulation made or scheme sanctioned thereunder, shall, if no other penalty is provided for such contravention, be punishable— (a) with fine which may extend to one thousand rupees; and (b) in case of a continuing contravention, with further fine which may extend to five hundred rupees for each day after the first during which the contravention continues.