Restitution from disgorged amounts requires public claims, scrutiny of valid claimants, and proportionate disbursement. Restitution under Regulation 14 operates on amounts disgorged pursuant to a direction under section 220(4). The Board must realise the disgorgement expeditiously, invite claims by public announcement from persons who suffered loss from the underlying contravention, and receive claims in the notified format within 30 days. It must then scrutinise the claims, prepare a list of valid claims within 30 days after the claim period, and disburse the disgorged amount proportionately among the valid claimants within 30 days of preparing that list.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restitution from disgorged amounts requires public claims, scrutiny of valid claimants, and proportionate disbursement.
Restitution under Regulation 14 operates on amounts disgorged pursuant to a direction under section 220(4). The Board must realise the disgorgement expeditiously, invite claims by public announcement from persons who suffered loss from the underlying contravention, and receive claims in the notified format within 30 days. It must then scrutinise the claims, prepare a list of valid claims within 30 days after the claim period, and disburse the disgorged amount proportionately among the valid claimants within 30 days of preparing that list.
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