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Amend Article 29 of its Articles of Association so as to remove the maximum fine that can be imposed on an erring member and to provide for a fine depending on the nature and the gravity of the violation within a period of 60 days from the date of the order.
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....CHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 19th December, 2001 S.O. 1232(E).-Securities and Exchange Board of India, in exercise of powers under Section 8(1) of Securities Contracts (Regulation) Act, 1956, vide its order dated September 12, 2001 had directed the exchange to amend Article 29 of its Articles of Association so as to remove the maximum fine that can be imposed on an erring memb....