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Insertion of new section 23JC - Continuance of proceedings

Clause 154 - Bills - AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 - FINANCE BILL, 2018 - Clause 154 - 154. Insertion of new section 23JC. After section 23JB of the principal Act, the following section shall be inserted, n .....

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extent as the deceased: Provided that, in case of any penalty payable under this Act, a legal representative shall be liable only in case the penalty has been imposed before the death of the deceased person. (2) For the purpose .....

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ed to have been initiated against the legal representative, and may be continued against the legal representative from the stage at which it stood on the date of the death of the deceased and all the provisions of this Act shall apply accordingly;

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ted against the legal representative and all the provisions of this Act shall apply accordingly. (3) Every legal representative shall be personally liable for any sum payable by him in his capacity as legal representative if, while his lia .....

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