If any person fails to comply with the directions issued by the Board under section 19, within the time specified by it, 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].
Section 19F: Penalty for failure to comply with directions issued by Board under section 19 of the Act.
The Depositories Act, 1996Central Act · Act 22 of 1996
Where this provision sits
| Act | The Depositories Act, 1996 |
|---|---|
| Section | 19F |
| Marginal note | Penalty for failure to comply with directions issued by Board under section 19 of the Act. |
| 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.
- substituted. . Subs. by s. 47, ibid., for certain words (w.e.f. 8-9-2014).
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