Section 179 of Finance Act 2018 : Amendment of section 11

By | April 1, 2018
(Last Updated On: April 22, 2018)

Section 179 of Finance Act 2018

[Section 179 of Finance Act 2018 deals with Amendment of section 11 and is covered in CHAPTER VIII MISCELLANEOUS]

Amendment of section 11

179. In the Securities And Exchange Board of India Act, 1992 (15 of 1992) (hereafter in this Part referred to as the principal Act), in section 11,—

(i)after sub-section (4), the following sub-section shall be inserted, namely:—
“(4A) Without prejudice to the provisions contained in sub-sections (1), (2), (2A), (3) and (4), section 11B and section 15-I, the Board may, by an order, for reasons to be recorded in writing, levy penalty under sections 15A, 15B, 15C, 15D, 15E, 15EA, 15EB, 15F, 15G, 15H, 15HA and 15HB after holding an inquiry in the prescribed manner.”;
(ii)in sub-section (5), after the words and figures “the Depositories Act, 1996” (22 of 1996), the words, figures, letters and brackets shall be inserted, namely:—
“or under a settlement made under section 15JB or section 23JA of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or section 19-IA of the Depositories Act, 1996,”(22 of 1996).

Finance Act 2018 : Assented by President : Download Print Notification

 

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