Statutory amendment: substitution of clause language in securities law shifts focus to continuation of failure. Amendment substitutes the words 'he sponsors or carries on any such collective investment scheme including mutual funds' with 'such failure continues' in clause (b) of section 15F, converting the clause's focus from sponsor/activity identification to the ongoing nature of the failure as the operative triggering language.
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Provisions expressly mentioned in the judgment/order text.
Statutory amendment: substitution of clause language in securities law shifts focus to continuation of failure.
Amendment substitutes the words "he sponsors or carries on any such collective investment scheme including mutual funds" with "such failure continues" in clause (b) of section 15F, converting the clause's focus from sponsor/activity identification to the ongoing nature of the failure as the operative triggering language.
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