5. Punishment

5. Punishment ⊕ ⊕ :

(1) Where any person exports or imports any goods prohibited or restricted pursuant to this Act or notified order thereunder or specified in the license issued for exportation or importation under this Act or the rules framed under this Act, by altering the goods or the value or quantity thereof without any reasonable cause, the goods to exported or imported shall be forfeited and such person shall be punished with a fine equal to the value of the goods or with Imprisonment for a term not exceeding one year or with both punishments.
(2) A person who aids the commission of any act punishable under Sub-section (1) shall be punished with half the punishment set forth in that sub-
section.
(3) Where, except for any act set forth in Sub-section (1), any person knowingly submits any false or forged evidence or details for the purpose of obtaining the license or makes any alteration or overwriting in the issued license in an unauthorized manner or causes obstruction in the functions of the office issuing
license, the license issuing competent authority may punish such person with a fine not exceeding two thousand rupees.
(4) The license issuing competent authority may punish any person who commits any act in contravention of this Act or the rules framed under this
Act, except those acts set forth in Sub-section (1), (2) and (3), with a fine not exceeding one thousand rupees.
(5) The license issuing competent authority may refrain from issuing the export or import license to any person who is punished pursuant to this Section for a period from one year to three years or cancel the license issued.