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Report No. 29

Section 236

Speculation

(1) Whoever,-

(a) carried on commercial activity or maintains an industrial enterprise without a proper licence,

(b) carried on unjustified intermediate trade with goods or speculates with them in any manner leading toprofiteering, shall be punished with loss of liberty not exceeding three years.

(2) Punishment shall be loss of liberty ranging from six months to five years, if speculation was committed-

(a) professionally,

(b) by a recidivist,

(c) in criminal partnership,

(d) in respect of a considerable quantity of goods or of goods of considerable value,

(e) was camouflaged to give the impression that the economic activity involved by it had been carried on by a state enterprise, other state economic organ or cooperative within the scope of its regular activity.

(3) Punishment shall be loss of liberty ranging from two years to eight years, if the interests of the people's economy were gravely prejudiced by the speculation and if in this case the crime also falls under para (2), punishment shall be loss of liberty ranging from five years to fifteen years.

(4) In the cases defined in para (2) and para (3) confiscation of property may also be applied as supplementary punishment and a recidivist may also be punished with expulsion from certain places of the country.

Section 237

Unauthorised foreign trade activity

(1) Whoever carries on foreign trading activity without being properly authorized so to do, shall be punished with loss of liberty not exceeding three years.

(2) Punishment shall be loss of liberty ranging from two years to eight years, if the interests of the people's economy were gravely prejudiced by the crime.

(3) Whoever commits the crime by negligence shall be punished with a fine and, if the interests of the people's economy were gravely prejudiced, with loss of liberty or correctional-educational work not exceeding one year.



Proposal to include certain Social and Economic Offences in the Indian Penal Code Back




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