# 446B Lesser penalties for One Person Companies or small companies
1[446B. Lesser penalties for One Person Companies or small companies.--Notwithstanding anything contained in this Act, if a One Person Company or a small company fails to comply with the provisions of sub-section (5) of section 92, sub-section (2) of section 117 or sub-section (3) of section 137, such company and officer in default of such company shall be punishable with fine or 2[liable to a penalty which shall not be more than one-half of the penalty specified in such sections.]
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1. Ins. by Act 1 of 2018, s. 91 (w.e.f. 9-2-2018).
2. Subs. by Act 22 of 2019, s. 40, for certain words (w.e.f. 2-11-2018).
