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of <h1>Finance Bill 2018: Amendments to Section 23J of Securities Contracts Act Clarify Penalty Factors and Authority Roles.</h1> Clause 151 of the Finance Bill, 2018 proposes amendments to section 23J of the Securities Contracts (Regulation) Act, 1956. The amendments include changing the marginal heading to 'Factors to be taken into account while adjudging quantum of penalty.' It also updates references from 'section 23-I' to 'section 12A or section 23-I' and replaces 'the adjudicating officer' with 'the Securities and Exchange Board of India or the adjudicating officer.' These changes ensure the factors in section 23J are applicable for imposing monetary penalties by both the Board under section 12A and an adjudicating officer under section 23-I.
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