5. (1) Where cotton is offered for sale to the occupier of a ginning factory, he shall buy the same and pay a price for it not less than the minimum price fixed for such cotton under any law for the time being in force. (2) If he fails to buy the cotton so offered to him or buys it at a price below the minimum price referred to in sub-section (1), then without prejudice to any punishment which may be imposed on him for having contravened a provision of this Act, the Government may order that the factory of which he is the occupier shall be confiscated to the Government and worked thereafter in such manner as it may see fit to direct. (3) He shall be at liberty after having bought the said cotton to sell the same to any person or at his option to the Government in accordance with the terms of an agreement to be entered into between him and the Government. (4) If after having entered into such agreement he contravenes or fails to comply with any provision of the same, he shall, without prejudice to any other action which the Government may take against him under this Act or under any other law for the time being in force, be deemed to have contravened a provision of this Act, and shall be punishable accordingly.