Section 19A: Penalty for failure to furnish information, return, etc.

The Depositories Act, 1996Central Act · Act 22 of 1996

[19A. Penalty for failure to furnish information, return, etc.--Any person, who is required under this Act or any rules or regulations or bye-laws made thereunder,--

(a) to furnish any information, document, books, returns or report to the Board, fails to furnish the same within the time specified therefor [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents], he shall be liable to a penalty [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees] for each such failure;

(b) to file any return or furnish any information, books or other documents within the time specified therefor in the regulations or bye-laws, fails to file return or furnish the same within the time specified therefor, he [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents] shall be liable to a penalty [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees];

(c) to maintain books of account or records, fails to maintain the same, he shall be liable to a penalty [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees].

Where this provision sits

Act	The Depositories Act, 1996
Section	19A
Marginal note	Penalty for failure to furnish information, return, etc.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 13 of 2018. . Ins. by Act 13 of 2018, s. 192 (w.e.f. 8-3-2019).
inserted, Act 1 of 2005. . Ins. by Act 1 of 2005, s. 17 (w.e.f. 12-10-2004).
inserted, Act 13 of 2018. . Ins. by Act 13 of 2018, s. 193 (w.e.f. 8-3-2019).
substituted, Act 27 of 2014. . Subs. by Act 27 of 2014, s. 42, for certain words (w.e.f. 8-9-2014).

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