(1) No person other than a member of the Institute shall sign any document on behalf of cost accountant in practice or a firm of such cost accountants in his or its professional capacity. 1[(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable on first conviction with a fine not less than 2[one lakh rupees] but which may extend to 3[five lakh rupees], and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less than 4[two lakh rupees] but which may extend to 5[ten lakh rupees[ or with both.]1. Subs. by Act 7 of 2006, s. 24, for sub-section (2) (w.e.f. 17-11-2006) 2. Subs. by Act 12 of 2022, s. 66, for “five thousand rupees” (w.e.f. 10-5-2022). 3. Subs. by s. 66, ibid., for “ one lakh rupees” (w.e.f. 10-5-2022). 4. Subs. by s. 66, ibid., for “ten thousand rupees” (w.e.f. 10-5-2022). 5. Subs. by s. 66, ibid., for “ two lakh rupees” (w.e.f. 10-5-2022).