Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006 Chapter IV POWERS OF THE BOARD
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Action in case of default: regulatory directions can enforce divestment, transfer to investor protection fund, or market access bans. Action in case of default empowers the Board to issue directions to enforce compliance, including requiring divestment of shares by persons with trading rights in breach of shareholding provisions, compelling divestment by holders in contravention of regulations, directing transfer of proceeds or securities to the investor protection fund, and debarment from market access for exchanges, shareholders, associates or transferees. These powers are additional to monetary penalties, prosecution and other statutory directions available under the legislation.
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.
Action in case of default: regulatory directions can enforce divestment, transfer to investor protection fund, or market access bans.
Action in case of default empowers the Board to issue directions to enforce compliance, including requiring divestment of shares by persons with trading rights in breach of shareholding provisions, compelling divestment by holders in contravention of regulations, directing transfer of proceeds or securities to the investor protection fund, and debarment from market access for exchanges, shareholders, associates or transferees. These powers are additional to monetary penalties, prosecution and other statutory directions available under the legislation.
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