Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) (Amendment) Rules, 2019. - G.S.R. 212(E) - SEBI

Adjudication procedure expanded to allow the Board or adjudicating officer to act and permit rectification of apparent errors.

Amendments broaden the adjudication framework by inserting an additional enabling clause and offence reference, and by substituting references to the adjudicating officer with references to the Board or the adjudicating officer, thereby permitting either to exercise specified functions. A new sub-rule grants the Board or the adjudicating officer a fifteen-day power to rectify any error apparent on the face of record in an order, defined to include typographical and other manifest errors not requiring extended reasoning.