Penalty.

(1) Any person - (a) Who, being responsible to submit a memorandum under Section 8, fails to submit such memorandum within the period specified therein; or (b) Who makes any statement or declaration in a memorandum which is false in any material particular and which he knows or has reason to believe to be false, shall, on conviction, be punishable with fine as may be prescribed. (2) No prosecution for any offence punishable under this Act shall be instituted except by an officer authorized by the State Government in this regard.