Section 13. Liability on transfer of ownership

13. (1) On a transfer of the ownership of a cotton ginning or pressing factory, the transferor shall handover to the transferee the registers maintained under section 5, and the transferee shall forthwith report to the prescribed authority any default of the transferor in complying with the provisions of this sub-section or in maintaining the registers in accordance with the provisions of section 5. (2) If default is made in handing over any register or making any report as required by sub-section (1), the transferor or the transferee, as the case may be, shall be punishable with fine which may extend to fifty rupees