TMI BlogScope of settlement proceedingsX X X X Extracts X X X X X X X X Extracts X X X X ..... alleged default had been rejected; (b) the audit or investigation or inspection or inquiry, if any, in respect of any cause of action, is not complete, except in case of applications involving confidentiality; or (c) monies due under an order issued under securities laws are liable for recovery under securities laws. (2) The Board may not settle any specified proceeding, if it is of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay be deemed appropriate by the Board. (4) Without prejudice to sub-regulations (1) and (3), the Board may not settle the specified proceedings where the applicant is a wilful defaulter, a fugitive economic offender or has defaulted in payment of any fees due or penalty imposed under securities laws. (5) Nothing contained in these regulations shall be construed to restrict the right of the P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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