TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Settlement of Administrative And Civil Proceedings) (Amendment) Regulations, 2016
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....Proceedings) (Amendment) Regulations, 2016 No. SEBI/LAD-NRO/GN/2016-17/010.-In exercise of the powers conferred under section 15JB of the Securities and Exchange Board of India Act, 1992, section 23JA of the Securities Contracts (Regulation) Act, 1956 and section 19-IA of the Depositories Act, 1996 read with section 30 of the Securities and Exchange Board of India Act, 1992, section 31 of the Sec....
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....y- "Provided further that the defaults under this clause shall be considered in accordance with these regulations and also the guidelines specified in Schedule-II." (II) In Schedule- II, in Chapter I, - (1) item (11) shall be renumbered as item (12); (2) after item (10) and before item (12) so renumbered, the following item shall be inserted, namely- "(11) It is hereby clarified that - (a) ....
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.... made or intends to make good the losses to the investors in terms of the first proviso to clause (b), provided he undertakes in writing that,- 'for the limited purpose of settling the administrative and civil proceedings I/We admit the charge before the Securities and Exchange Board of India.' (d) While considering its 'seriousness', the default shall be seen in the context of its specific na....
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....pany or stock exchange or clearing corporation or a depository shall be relevant factors for considering the 'seriousness' of the default. (f) Market wide impact: shall mean the defaults which have a bearing on the securities market as a whole and not just the listed security and its investors which is under investigation/inquiry/inspection, etc. (g) The defaults which affect the right of invest....