A Court imposing any fine under this Act may direct that the whole or any part thereof shall be applied in or towards payment of the costs of the proceedings, or in or towards the rewarding of the person on whose information the fine is recovered.
The exemptions, whether express or implied, in favour of a private company in *[sections 90, 165, 182, 204 and 255, clauses (a) and (b) of sub-section (1) of section 293 and sections 300, 388A and 416 of the Companies Act, 1956 (1 of 1956)], shall not operate in favour of a private company which is a banking company.
-------------------
* The words, figures and letters "sections 17, 77, 83B, 86H, 91B and 91D and sub-section (5) of section 144 of the Indian Companies Act, 1913 (7 of 1913)" have successively been amended by Act 95 of 1956, s. 11, Act 33 of 1959, s. 34 and Act 55 of 1963, s. 27 to read as above.
Section 48 Application of fines Section 49 Special provisions for private banking companies
Section 50 Certain claims for compensation barred
Section 51 Application on of certain provisions to the State Bank of India and other notified banks
Section 52 Power of Central Government to make rules
Section 53 Power to exempt in certain cases
Section 54 Protection of action taken under Act
Section 55 Amendment of Act 2 of 1934, Section 55a Power to remove difficulties
Section 56 Act to apply to co-operative societies subject to modifications