Attachment of assets: temporary regulatory power to restrain implicated accounts pending court confirmation and tax interest start clarified. The amendment empowers the securities regulator to attach bank accounts or other property of intermediaries or persons associated with the securities market suspected of violating the Act, limited to property or transactions relating to proceeds actually involved in the violation and subject to judicial confirmation to continue during proceedings; existing post-proceeding rules apply. It also clarifies that tax interest begins from the date the amount became payable by the person.
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Attachment of assets: temporary regulatory power to restrain implicated accounts pending court confirmation and tax interest start clarified.
The amendment empowers the securities regulator to attach bank accounts or other property of intermediaries or persons associated with the securities market suspected of violating the Act, limited to property or transactions relating to proceeds actually involved in the violation and subject to judicial confirmation to continue during proceedings; existing post-proceeding rules apply. It also clarifies that tax interest begins from the date the amount became payable by the person.
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