(1) Save as otherwise provided in these regulations, the provisions with regard to settlement of specified proceedings shall mutatis mutandis apply to an application for settlement of any proceeding pending before the Tribunal or any court.
(2) The proposal of settlement along with the settlement terms or rejection thereof shall be placed before such Tribunal or court for appropriate orders.
Service and publication of settlement order.
25. Settlement orders shall be served on the applicant and shall also be published on the website of the Board:
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Provided that settlement orders in matters relating to the confidentiality shall not, directly or indirectly, disclose the identity of the applicant, but shall indicate the provisions of securities laws which the applicant is alleged to have violated.
Settlement Schemes.
26. Notwithstanding anything contained in these regulations, the Board may specify the procedure and terms of settlement of specified proceedings under a settlement scheme for any class of persons involved in respect of any similar specified defaults.
Explanation. - A settlement order issued under a Settlement scheme shall be deemed to be a settlement order under these regulations.
Effect of settlement order on third party rights or other proceedings.