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of <h1>Amendment to Section 19 of Depositories Act, 1996: Authority to Disgorge Profits from Violations Clarified.</h1> In the Securities Laws (Amendment) Act, 2014, an amendment to Section 19 of the Depositories Act, 1996, clarifies the scope of the power to issue directions. It explicitly states that this power includes the authority to order any individual who has profited or avoided loss through activities violating the Act or its regulations to disgorge an amount equal to the wrongful gain or loss averted. This explanation ensures that such powers are recognized as inherent in the Act, reinforcing regulatory measures against contraventions.
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