[19FA. Penalty for failure to conduct business in a fair manner.--Where a depository fails to conduct its business with its participants or any issuer or its agent or any person associated with the securities markets in a fair manner in accordance with the rules, regulations made by the Board or directions issued by the Board under this Act, it shall be liable to penalty which shall not be less than five crore rupees but which may extend to twenty-five crore rupees or three times the amount of gains made out of such failure, whichever is higher.]
Section 19FA: Penalty for conduct business in a fair manner.
The Depositories Act, 1996Central Act · Act 22 of 1996
Where this provision sits
| Act | The Depositories Act, 1996 |
|---|---|
| Section | 19FA |
| Marginal note | Penalty for conduct business in a fair manner. |
| 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. 194 (w.e.f. 8-3-2019).
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