Section 58Failure to surrender certificate of registration

If any person whose name has been removed from the Central Register or a State Register, he shall surrender forthwith his certificate of registration or certificate of renewal, as the case may be, or both, failing which he [shall be liable to penalty which may extend to fifty thousand rupees and in case of a continuing contravention with an additional penalty which may extend to five thousand rupees per day after the first day during which the offence contravention continues].