[23GA. Penalty for failure to conduct business in accordance with rules, etc.--Where a stock exchange or a clearing corporation fails to conduct its business with its members or any issuer or its agent or any person associated with the securities markets in accordance with the rules or regulations mad by the Securities and Exchange Board of India and the directions issued by it under this Act, the stock exchange or the clearing corporations, as the case may be, 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 23GA: Penalty for failure to conduct business in accordance with rules, etc.
The Securities Contracts (Regulation) Act, 1956Central Act · Act 42 of 1956
Where this provision sits
| Act | The Securities Contracts (Regulation) Act, 1956 |
|---|---|
| Section | 23GA |
| Marginal note | Penalty for failure to conduct business in accordance with rules, 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 2018. . Ins. by Act 13 of 2018, s. 152 (w.e.f. 8-3-2019).
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