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<h1>Regulation 18: Issuing Settlement Notices in Securities Cases, Filing Application within 15 Days Before Show Cause Notice.</h1> Regulation 18 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, outlines the process for issuing a settlement notice. This notice, formatted as specified, details probable charges and enforcement actions and is issued before a show cause notice, allowing the recipient 15 days to file a settlement application. The Board retains the right to modify enforcement actions and charges, and recipients cannot claim settlement rights based on initial charges. If a settlement application is not filed or is withdrawn before a decision, proceedings may commence, and settlement applications can only be filed after proceedings conclude before a Court or tribunal.