General provision for punishment of offences

Whoever contravenes any of the provisions of this Act or of any rule or regulations made or does anything against any plan, project or scheme sanctioned thereunder shall, if no other penalty is provided for such contravention, be punishable-(a) for the first offence, with fine which may extend to Rs. 1,000; and(b) for a second or any subsequent offence with fine which shall not be less than Rs. 250 and not more than Rs. 5,000.