Summary procedure governs legacy intermediary penalty proceedings initiated before current regulations, requiring disposal under the designated transitional chapter. Regulation 33A requires summary procedure under Chapter VA for proceedings initiated under Chapter III of the repealed 2002 enquiry and penalty ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Summary procedure governs legacy intermediary penalty proceedings initiated before current regulations, requiring disposal under the designated transitional chapter.
Regulation 33A requires summary procedure under Chapter VA for proceedings initiated under Chapter III of the repealed 2002 enquiry and penalty regulations before the 2008 Intermediaries Regulations came into force. It directs disposal of these legacy proceedings in accordance with Chapter VA, notwithstanding other provisions. The framework took effect through the 2009 amendment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.