189. Amendment of section 19.
Section 19 of the Depositories Act, 1996 (hereafter in this Part referred to as the principal Act) shall be numbered as sub-section (1) thereof and after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:––
“(2) Without prejudice to the provisions contained in sub-section (1) and section 19H, the Board may, by order, for reasons to be recorded in writing, levy penalty under sections 19A, 19B, 19C, 19D, 19E, 19F, 19FA and 19G after holding an inquiry in the prescribed manner.”.
Notes on Clauses:
Clause 189 of the Bill seeks to amend section 19 of the Depositories Act, 1996 to empower the Board to levy monetary penalty under the said Act after holding an inquiry in the prescribed manner.
