Section 26 - Cognizance of offences by courts - SECURITIES CONTRACTS (REGULATION) ACT, 1956

1 [Cognizance of offences by courts. 26. (1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations or bye-laws made thereunder, save on a complaint made by the Central Government or State Government or the Securities and Exchange Board of India or a recognised stock exchange or by any person. 2 [ (2)********] ******** 1 Substituted by the Securities Laws (Amendment) Act, 2004, Sec 13, w.e.f.. 12-10-2004. Prior to its substitution section 26 read as under :- 26 Jurisdiction. to try offences under this Act.-No court inferior to that of a presidency magistrate or a magistrate of the first class shall take cognizance of or try any offence punishable under this Act. 2 Omitted by the Securities Laws (Amendment) Act, 2014, w.e.f.. 18-07-2013. Prior to omission, Sub-section (2) read as under: No court inferior to that of a Court of Session shall try any offence punishable under this Act.