Section 23J
Factors to be taken into account by the adjudicating officer.
The Securities Contracts (Regulation) Act, 1956
About this Act
An Act to prevent undesirable transactions in securities by regulating the business of dealing therein, by providing for certain other matters connected therewith.
23J. 1[Factors to be taken into account while adjudging quantum of penalty.]--While adjudging
the quantum of penalty under 2[section 12A or section 23-I],
3[the Securities and Exchange Board of India
or the adjudicating officer] shall have due regard to the following factors, namely:--
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.
Notes
1. Subs. by Act 13 of 2019, s. 154, for "Factors to be taken into account by adjudicating officer" (w.e.f. 8-3-2019).
2. Subs. by s. 154, ibid., for "section 23-I" (w.e.f. 8-3-2019).
3. Subs. by s. 154, ibid., for "the adjudicating officer" (w.e.f. 8-3-2019).
2. Subs. by s. 154, ibid., for "section 23-I" (w.e.f. 8-3-2019).
3. Subs. by s. 154, ibid., for "the adjudicating officer" (w.e.f. 8-3-2019).