Stamp Act, 1899 — section 66

66. Penalty for not making out policy, or making one not duly stamped..—Any person who

(a)receives, or takes credit for, any premium or consideration for any contract of insurance and does not, within one month after receiving, or taking credit for, such premium or consideration, make out and execute a duly stamped policy of such insurance; or

(b)makes, executes or delivers out any policy which is not duly stamped, or pays or allows in account, or agrees to pay or allow in account, any money upon, or in respect of, any such policy; shall be punishable with fine which may extend to two hundred rupees. 67. Penalty for not drawing full number of bills or marine polices purporting to be in sets.— Any person drawing or executing a bill of exchange l[payable otherwise than on demand] or a policy of marine insurance purporting to be drawn or executed in a set of two or more, and not at the same time drawing or executing on paper duly stamped the whole number of bills or policies of which such bill or policy purports the set to consist, shall be punishable with fine which may extend to one thousand rupees. 1 Ins. by the Indian Finance Act, 1927 (Act No. V of 1927), s. 5.