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of <h1>Amendment to Section 19B of Depositories Act 1996 revises penalty structure for compliance failures in securities regulations.</h1> Section 19B of the Depositories Act, 1996, has been amended by the Securities Laws (Amendment) Act, 2014. The amendment modifies the penalty structure for certain failures. Previously, the penalty was one lakh rupees per day of failure, capped at one crore rupees. The revised provision now imposes a minimum penalty of one lakh rupees, which can increase to one lakh rupees per day of continued failure, with a maximum limit of one crore rupees.
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