145. Amendment of section 23.
In section 23 of the principal Act, in sub-section (1), in the long line, after the words “Adjudicating officer”, the words “or the Securities and Exchange Board of India” shall be inserted.
Notes on Clauses:
Clause 145 of the Bill seeks to amend section 23 of the Securities Contracts (Regulation) Act, 1956, as a consequential amendment, to enable the Board to levy monetary penalty by itself or its officer, not below the rank of Division Chief.
