If a recognised stock exchange fails or neglects to furnish periodical returns [or furnishes false, incorrect or incomplete periodical returns] to the Securities and Exchange Board of India or fails or neglects to make or amend its rules or bye-laws as directed by the Securities and Exchange Board of India or fails to comply with directions issued by the Securities and Exchange Board of India, such recognised stock exchange shall be [liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees].
Section 23G: Penalty for failure to furnish periodical returns, etc.
The Securities Contracts (Regulation) Act, 1956Central Act · Act 42 of 1956
Where this provision sits
| Act | The Securities Contracts (Regulation) Act, 1956 |
|---|---|
| Section | 23G |
| Marginal note | Penalty for failure to furnish periodical returns, 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 2019. . Ins. by Act 13 of 2019, s. 151 (w.e.f. 8-3-2019).
- substituted, Act 27 of 2014. . Subs. by Act 27 of 2014, s. 31, for "liable to a penalty not exceeding twenty-five crore rupees" (w.ef. 8-9-2014).
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