Section 20
Offences
About this Act
An Act to provide for regulation of depositories in securities and for matters connected therewith or incidental thereto.
1[2
[20. Offences.--(1) Without prejudice to any award of penalty by the adjudicating officer 3
[or the
Board] under this Act, if any person contravenes or attempts to contravene or abets the contravention of
the provisions of this Act or of any rules or regulations or bye-laws made thereunder, he shall be
punishable with imprisonment for a term which may extend to ten years, or with fine, which may extend
to twenty-five crore rupees, or with both.
(2) If any person fails to pay the penalty imposed by the 4 [adjudicating officer or the Board or fails to comply with any] directions or orders, he shall be punishable with imprisonment for a term which shall not be less than one month but which may extend to ten years, or with fine, which may extend to twentyfive crore rupees, or with both.]
(2) If any person fails to pay the penalty imposed by the 4 [adjudicating officer or the Board or fails to comply with any] directions or orders, he shall be punishable with imprisonment for a term which shall not be less than one month but which may extend to ten years, or with fine, which may extend to twentyfive crore rupees, or with both.]
Notes
1. Subs. by s. 200, ibid.., for "PENALTY" (w.e.f. 8-3-2019).
2. Subs. by Act 1 of 2005, s. 18, for section 20 (w.e.f. 12-10-2004).
3. Ins. by Act 13 of 2018, s. 201 (w.e.f. 8-3-2019).
4. Subs. by s. 201, ibid., for "adjudicating officer or fails to comply with any of his" (w.e.f. 8-3-2019).
2. Subs. by Act 1 of 2005, s. 18, for section 20 (w.e.f. 12-10-2004).
3. Ins. by Act 13 of 2018, s. 201 (w.e.f. 8-3-2019).
4. Subs. by s. 201, ibid., for "adjudicating officer or fails to comply with any of his" (w.e.f. 8-3-2019).