Act Number: 19

Act Name: The Petroleum and Natural Gas Regulatory Board Act, 2006

Year: 2006

Enactment Date: 2006-03-31

Long Title: An Act to provide for the establishment of Petroleum and Natural Gas Regulatory Board to regulate the refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products and natural gas excluding production of crude oil and natural gas so as to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to ensure uninterrupted and adequate supply of petroleum, petroleum products and natural gas in all parts of the country and to promote competitive markets and for matters connected therewith or incidental thereto.

Ministry: Ministry of Petroleum and Natural Gas

Department:

Section 27: Factors to be taken into account by the Board.
    The Board shall, while deciding a dispute under this Chapter, have due regard to the provisions of this Act and to the following factors, namely:--
         (a) the amount of disproportionate gain made or unfair advantage derived, wherever quantifiable, as a result of the default;
         (b) the amount of loss caused to an entity as a result of the default;
         (c) the repetitive nature of the default.
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