TMI BlogImposition of penaltyX X X X Extracts X X X X X X X X Extracts X X X X ..... the relevant Regulations, submit a report to the Chairman or a member designated in this behalf and recommend for the imposition of any of the following penalties by the Chairman or the member, as the case may be, with the justification for the imposition thereof:- (a) Minor penalties - i) 1 [ ***] or censure; ii) prohibiting the intermediary to take up any new assignm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eding six months. (2) On receipt of the report from the enquiry officer, the Chairman or the member, as the case may be, shall consider the same and issue a show-cause notice to the intermediary 2 [ enclosing therewith a copy of the report of the Enquiry Officer ] as to why the action as it considers appropriate should not be taken. (3) The intermediary 3 [ may] within fifte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only in the following circumstances, namely:- (a) the intermediary or any of its whole-time directors or partners or its proprietor has been found guilty of price or market manipulation of any scrip or index or assisting in such manipulation or of insider trading; (b) the intermediary is guilty of violation of conditions of registration; (c) the intermediary or any of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * 2. Inserted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Second Amendment) Regulations, 2005, w.e.f. 7.6.2005. *[As corrected vide SO 1333(E), dated 21.08.2006. 3. Substituted for shall, ibid. 4. Substituted, ibid. Prior to its substitution, sub-regulation(4), read as under: (4) The Chairman or the member, as the case ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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