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Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2018 Chapters List Part XI AMENDMENTS TO THE DEPOSITORIES ACT, 1996 This

Clause 193 - Amendment of section 19-I. - FINANCE BILL, 2018

FINANCE BILL, 2018
Part XI
AMENDMENTS TO THE DEPOSITORIES ACT, 1996
  • Contents

193. Amendment of section 19-I.

In section 19-I of the principal Act,––

(i) for the marginal heading, the following marginal heading shall be substituted, namely:-

          “Factors to be taken into account while adjudging quantum of penalty”.

(ii) for the words, figures and letter “section 19H, the adjudicating officer”, the words, figures and letter “section 19 or section 19H, the Board or the adjudicating officer” shall be substituted;

(iii) in the Explanation, the words “of an adjudicating officer” shall be omitted.

 



 

Notes on Clauses:

Clause 193 of the Bill seeks to amend section 19-I of the Act, to provide that the factors mentioned in the said section are relevant for levy of monetary penalty, by the Board under section 19 as well as by an adjudicating officer under section 19H of the said Act.

 
 
 
 

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