REGISTERED NO. DL-33004/94 The Gazette of India E X T R A O R D I N A R Y
PART II—Section 1 PUBLISHED BY AUTHORITY No 31] MEW DELHI, MONDAY, MARCH 28, 1994/CHAITRA 7, 1916 Separate paging is given to this Part in order that it may be filed as a separate compilation MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 28th M a r c h , 1 9 9 4 (Saka) The following Act of Parliament received the assent of the President on the 28th March, 1994, and is hereby published for general information:— THE SPEC IAL COURT (TRIAL, OF OFFENCES RELATING TO TRANSACTIONS IN SECURITIES) AMENDMENT ACT, 1994 No 24 OF 1994 [28th March, 1994.]
An Act to amend the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 BE it enacted by Parliament in the Forty-fifth Year of the Republic of India as follows:—
1. (1) This Act may be called the Special Court (Trial of Offences Relating to Transactions in Securities) Amendment Act, 1994
(2) It shall be deemed to have come into force on the 25th day of January, 1994.
Short title and commencement.
27 of 1992
2. In section 5 of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (hereinafter referred to as the principal Act), after sub-section (2), the following sub-section shall be inserted, namely: — "(5) When the office of the Judge of the Special Court is vacant by reason of absence or leave, the duties of the office shall be performed by such Judge of the High Court within the local limits of Amendment of section 5.
2 THE GAZETTE OF INDIA EXTRAORDINARY [PAAP K— whose jurisdiction the Special Court is situated as the Chief Justice of that High Court may, with the concurrence of the Chief Justice of India, nominate for the purpose and the Judge so appointed shall have all the jurisdiction and powers of the Judge of the Special Cou^t including the powers to pase final orders.".
Insertion of now section* 9Aand
9B.
3. After section 9 of ihe principal Act, the following sections shall be inserted, namely: — Jurisdiction, powers, authority and procedure of Special Court in civil matter*.
'9A. (1) On and from the commencement of the Special Court (Trial of Offences Relating to Transactions in Securities) Amendment Act, 1994, the Special Court shall exercise all suoh jurisdiction, powers and authority as were exercisable, immediately before such commencement, by any civil court in relation to any matter or claim—
(a) relating to any property standing attached under subsection (3) of section 3;
(b) arising out of transactions in securities entered into after the 1st day of April, 1991, and on or before the 6th day of June, 1992, in which a person notified under sub-section (2) of section 3 is involved as a party, broker, intermediary or in finy other manner.
(2) Every suit, claim or other legal proceeding (other than an appeal) pending before any court immediately before die commencement of the Special Court (Trial of Offences Relating to Transactions in Securijties) Amendment Act, 1994, being a suit, claim or proceeding, the cause of action whereon it is based is such that it would have been, if it had arisen after such commencement, within the jurisdiction of the Special Court under sub-section (1), shall stand transferred on such commencement to the Special Court and the Special Court may, on receipt of the records of such suit, claim or other legal proceeding, proceed to deal with it, so far as may be, in the same manner as a suit, claim or legal proceeding from the stage which was reached before such transfer or from any earlier stage or de TWO as the Special Court may deem fit.
(3) On and from the commencement of the Special Court (Trial of Offences Relating to Transactions in Securities) Amendment Act, 19i*4, no court other than the Special Court shal] have, or be entitled to exercise, any jurisdiction, power or authority in relation to any matter or claim referred to in sub-section (1).
(4) Whiie dealing with cases relating to any matter or claim under this section, the Special Court shall not be bound by the procedure laid down by the Code of Civil Procedure, 1908, but shall be guided by the principles of natural justice, and subject to the other provisions Of this Act and of any rules, the Special Court shall have power to regujate its own procedure.
5 of 1908.
(5) Without prejudice to the other powers conferred under this Act, the Special Court shall have, for the purposes of discharging its functions under this section, the same powers as are vested in a SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 3 5 <*i !»•«. civil court under the Code of Civil Procedure, 1908, while trying a suit, in respect of the following matters, namely: —
(a) summoning and enforcing the attendance of any person gmd examining him on oath;
(b) requiring the discovery and production of documents;
(c) receiving evidence on affidavits;
1 of 1172.
(d) subject t0 the provisions of sections 123 and 124 of the Indian Evidence Act, 1872, requisitioning any public record or document or copy of s»ch record or document from any office;
(e) issuing commissions for the examination of witnesses or documents;
(f) reviewing its decisions;
(g) dismissing a case for default or deciding it ex parte;
(h) setting aside any order of dismissal of any case for default or any order passed by it ex parte; and (0 any other matter which may be prescribed by the Central Government under sub-section (!) of section 14, 19 ot 1949.
9B. (!) Thii Special Court shall have the jurisdiction and powers of a Court conferred under the Arbitration Act; 1940 to decide any question forming the subject matter of a reference relating to any matter or claim mentioned in sub-section (!) of section 9A.
Powers of the Special Court in arbitration matf«r«.
10 of 194t.
(2) Every suit or other proceeding (other than an appeal) in relation to any matter or claim referred to in sub-section (1) of section 9A pending before any Court and governed by the Arbitration Act, 1940, immediately before the date of comtmencement of the Special Court (Trial of Offences Relating to Transactions in Securities) Amendment Act, 1994 shall stand transferred on that date to the Special Court.
10 of 1940.
Explanation*—For the purposes of thig section, the expressions "Court" and "reference" shall have respectively the same meanings as denned under clauses (c) and (e) of section 2 of the Arbitration Act, 1940.'.
5 of 1908.
10 of 1940.
4. In section 10 of the principal Act,—
(a) in sub-section (1), after the word "Code", the words and figures "or the Code of Civil Procedure, 1908 or the Arbitration Act, 1940;' shall be inserted;
Amend, ment of section 10.
(b) in sub-sections (1) and (2), after the word "judgment", the word ", decree" shall be inserted.
Insertion of now section
11A.5. After section 11 of the principal Act, the following section shall be inserted, namely: — "11 A. The Special Court shall have, and exercise, the same jurisdiction, powers and authority in respect of contempt of itself as Power to punish for contempt 4 THE GAZETTE OF INDIA EXTRAORDINARY [P\v.i I I^SEC. 1] a High Court has and may exercise and, for thia purpose, the provisions of the Contempt of Courts Act, 1971, shall have effect subject to the modifications that—
(a) the references therein to a High Court shall be construed as including a reference to such Special Couri;
(b) che references to the Advocate-General in section 15 of the said Act, shall be construed, in relation to the Special Court, as a reference to the Attorney-General or the Solicitor-General or the Additional Solicitor-General.", 70 of 1571 Repeal and saving.
6. (2) The Special Court (Trial of Offences Relating to Transactions in Securities) Amendment Ordinance, 1994 is hereby repealed. Ord. 3 of
1994.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the principal Act, as amended by this Act.
A. C. C. UNNI, Additional Secretary to the Govt, of India.
PRINTED BY THE MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI ANO PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 1994.