Penalty amendment clarifies minimum and per day fines with an overall statutory cap for breaches concerning collective investment schemes. Amendment revises section 15D to redefine the statutory fine structure for sponsoring or carrying on collective investment schemes and for continuing failures, specifying a prescribed minimum, permitting a per day penalty for the duration of the breach, and preserving a maximum aggregate limit on liability.
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.
Penalty amendment clarifies minimum and per day fines with an overall statutory cap for breaches concerning collective investment schemes.
Amendment revises section 15D to redefine the statutory fine structure for sponsoring or carrying on collective investment schemes and for continuing failures, specifying a prescribed minimum, permitting a per day penalty for the duration of the breach, and preserving a maximum aggregate limit on liability.
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