Section 15J: Factors to be taken into account while adjudging quantum of penalty.
The Securities and Exchange Board of India Act, 1992Central Act · Act 15 of 1992
15J. [Factors to be taken into account while adjudging quantum of penalty].--While adjudging the quantum of penalty under section [15-I or section 11 or section 11B, the Board or the adjudicating officer] officer shall have due regard to the following factors, namely:--
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.
[Explanation.--For the removal of doubts, it is clarified that the power of *** to adjudge the quantum of penalty under sections 15A to 15E, clauses (b) and (c) of section 15F, 15G, 15H and 15HA shall be and shall always be deemed to have been exercised under the provisions of this section.]]
Factors to be taken into account while adjudging quantum of penalty.
Jurisdiction
Central
Status
In force as published by the source
Judgments citing it
4
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, Act 13 of 2018. . Subs. by Act 13 of 2018, s. 185, for marginal heading (w.e.f. 8-3-2019). 2 2. . Subs. by s. 185, ibid., for section 15-I, the adjudicating officer (w.e.f. 8-3-2019). 2 3. . Ins. by Act 7 of 2017, s.147 (w.e.f. 1-3-2017).
omitted, Act 13 of 2018. . The words "of an adjudicating officer" omitted by Act 13 of 2018, s. 185 (w.e.f. 8-3-2018).
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