Insertion of section

After section 59 of the principal Act, the following section shall be inserted, namely :— "59A-1. If the statement in respect of any firm is not sent or delivered to the Registrar within the time specified in sub-section (1A) of section 58, then the firm may be registered on payment, to the Registrar, of a penalty of one hundred rupees per year of delay or a part thereof.".