Regulatory repeal of ombudsman rules preserves existing rights, liabilities, penalties and allows continuation of proceedings as before. The 2023 Regulations repeal the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 with commencement on publication in the Official Gazette, while a savings clause preserves prior operation, accrued rights, privileges, obligations, liabilities, penalties and punishments, and allows investigations, legal proceedings and remedies to be instituted, continued, enforced or imposed as if the 2003 Regulations had not been repealed.
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.
Regulatory repeal of ombudsman rules preserves existing rights, liabilities, penalties and allows continuation of proceedings as before.
The 2023 Regulations repeal the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 with commencement on publication in the Official Gazette, while a savings clause preserves prior operation, accrued rights, privileges, obligations, liabilities, penalties and punishments, and allows investigations, legal proceedings and remedies to be instituted, continued, enforced or imposed as if the 2003 Regulations had not been repealed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
