Report No. 47
XIV. Amendment of the Imports and Exports (Control) Act, 1947
(1) The usual provision as to the liability of directors etc. for offences by companies should be inserted in the Imports etc. Act and it should be added in that provision that the Chairman or Managing Director of the company shall be conclusively presumed to have consented to or connived at a transaction connected with a licence applied for and obtained under the Act in the name of the company1.
(2) Making a false statement in a declaration etc. under, the Act should be punishable2.
(3) A provision similar to section 139, Customs Act, as proposed to be revised in this Report (presumption as to certain documents), should be inserted in the Imports & Exports Control Act also3.
1. Paras. 8.12 and 8.13.
2. Para. 15.97.
3. Para. 12.5.