Levy of penalty: regulators may impose statutory penalties after a prescribed inquiry under amended provisions. Power to levy penalty is extended by amending section 11B: the marginal heading is broadened and the provision is renumbered, and a new sub section ... Summary
Levy of penalty: regulators may impose statutory penalties after a prescribed inquiry under amended provisions.
Power to levy penalty is extended by amending section 11B: the marginal heading is broadened and the provision is renumbered, and a new sub section authorises the Board, for reasons recorded in writing, to levy penalties under a specified list of penalty provisions after holding an inquiry in the prescribed manner, without prejudice to other powers in the Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.