16. Power to Central Government to issue directions.—(1) Without prejudice to the foregoing
provisions of this Act, the Board shall, in exercise of its powers or the performance of its functions under
4
[this Act or the Depositories Act, 1996 (22 of 1996)], be bound by such directions on questions of policy
as the Central Government may give in writing to it from time to time:
1. Subs. by Act 32 of 1999, s. 10, for section 15V (w.e.f. 16-12-1999).
2. Subs. by Act 59 of 2002, s. 26, for section 15X (w.e.f. 29-10-2002).
3. Subs. by s. 27, ibid., for section 15Z (w.e.f. 29-10-2002).
4. Subs. by Act 22 of 1996, s. 30 and the Schedule, for “this Act” (w.e.f. 20-9-1995).
26
Provided that the Board shall, as far as practicable, be given an opportunity to express its views
before any direction is given under this sub-section.
(2) The decision of the Central Government whether a question is one of policy or not shall be final.
17. Power of Central Government to supersede the Board.—(1) If at any time the Central
Government is of opinion—
(a) that on account of grave emergency, the Board is unable to discharge the functions and duties
imposed on it by or under the provisions of this Act; or
(b) that the Board has persistently made default in complying with any direction issued by the
Central Government under this Act or in the discharge of the functions and duties imposed on it by or
under the provisions of this Act and as a result of such default the financial position of the Board or
the administration of the Board has deteriorated; or
(c) that circumstances exist which render it necessary in the public interest so to do,
the Central Government may, by notification, supersede the Board for such period, not exceeding six
months, as may be specified in the notification.
(2) Upon the publication of a notification under sub-section (1) superseding the Board,—
(a) all the members shall, as from the date of supersession, vacate their offices as such;
(b) all the powers, functions and duties which may, by or under the provisions of this Act, be
exercised or discharged by or on behalf of the Board, shall until the Board is reconstituted under
sub-section (3), be exercised and discharged by such person or persons as the Central Government
may direct; and
(c) all property owned or controlled by the Board shall, until the Board is reconstituted under
sub-section (3), vest in the Central Government.
(3) On the expiration of the period of supersession specified in the notification issued under
sub-section (1), the Central Government may reconstitute the Board by a fresh appointment and in such
case any person or persons who vacated their offices under clause (a) of sub-section (2), shall not be
deemed disqualified for appointment:
Provided that the Central Government may, at any time, before the expiration of the period of
supersession, take action under this sub-section.
(4) The Central Government shall cause a notification issued under sub-section (1) and a full report of
any action taken under this section and the circumstances leading to such action to be laid before each
House of Parliament at the earliest.
18. Returns and reports.—(1) The Board shall furnish to the Central Government at such time and
in such form and manner as may be prescribed or as the Central Government may direct, such returns and
statements and such particulars in regard to any proposed or existing programme for the promotion and
development of the securities market, as the Central Government may, from time to time, require.
(2) Without prejudice to the provisions of sub-section (1), the Board shall, within 1
[ninety days] after
the end of each financial year, submit to the Central Government a report in such form, as may be
prescribed, giving a true and full account of its activities, policy and programmes during the previous
financial year.
(3) A copy of the report received under sub-section (2) shall be laid, as soon as may be after it is
received, before each House of Parliament.
19. Delegation.—The Board may, by general or special order in writing delegate to any member,
officer of the Board or any other person subject to such conditions, if any, as may be specified in the
order, such of its powers and functions under this Act (except the powers under section 29) as it may
deem necessary.
20. Appeals.—(1) Any person aggrieved by 2
[an order of the Board made, before the commencement
of the Securities Laws (Second Amendment) Act, 1999 (32 of 1999),] under this Act, or the rules or
1. Subs. by Act 9 of 1995, s. 10, for “sixty days” (w.e.f. 25-1-1995).
2. Subs. by Act 32 of 1999, s. 11, for “an order of the Board made” (w.e.f. 16-12-1999).
27
regulations made thereunder may prefer an appeal to the Central Government within such time as may be
prescribed.
(2) No appeal shall be admitted if it is preferred after the expiry of the period prescribed therefor:
Provided that an appeal may be admitted after the expiry of the period prescribed therefor if the
appellant satisfies the Central Government that he had sufficient cause for not preferring the appeal within
the prescribed period.
(3) Every appeal made under this section shall be made in such form and shall be accompanied by a
copy of the order appealed against and by such fees as may be prescribed.
(4) The procedure for disposing of an appeal shall be such as may be prescribed:
Provided that before disposing of an appeal, the appellant shall be given a reasonable opportunity of
being heard.
1
[20A. Bar of jurisdiction.—No order passed by the 2
[Board or the adjudicating officer] under this
Act shall be appealable except as provided in 3
[section 15T or section 20] and no civil court shall have
jurisdiction in respect of any matter which the 4
[Board or the adjudicating officer] is empowered by, or
under, this Act to pass any order and no injunction shall be granted by any court or other authority in
respect of any action taken or to be taken in pursuance of any order passed by the 4
[Board or the
adjudicating officer] by, or under, this Act.]
21. Savings.—Nothing in this Act shall exempt any person from any suit or other proceedings which
might, apart from this Act, be brought against him.
22. Members, officers and employees of the Board to be public servants.—All members, officers
and other employees of the Board shall be deemed, when acting or purporting to act in pursuance of any
of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal
Code (45 of 1860).
23. Protection of action taken in good faith.—No suit, prosecution or other legal proceedings shall
lie against the Central Government 4
[or Board] or any officer of the Central Government or any member,
officer or other employee of the Board for anything which is in good faith done or intended to be done
under this Act or the rules or regulations made thereunder.
5
[24. Offences.—(1) Without prejudice to any award of penalty by the adjudicating officer 6
[or the
Board] under this Act, if any person contravenes or attempts to contravene or abets the contravention of
the provisions of this Act or of any rules or regulations made thereunder, he shall be punishable with
imprisonment for a term which may extend to 7
[ten years, or with fine, which may extend to twenty-five
crore rupees or with both].
(2) If any person fails to pay the penalty imposed by the adjudicating officer 8
[or the Board] or fails to
comply with any 9*** directions or orders, he shall be punishable with imprisonment for a term which
shall not be less than one month but which may extend to 10[ten years, or with fine, which may extend to
twenty-five crore rupees or with both.]
11[24A. Composition of certain offences.—Notwithstanding anything contained in the Code of
Criminal Procedure, 1973 (2 of 1974), any offence punishable under this Act, not being an offence
punishable with imprisonment only, or with imprisonment and also with fine, may either before or after
the institution of any proceeding, be compounded by a Securities Appellate Tribunal or a court before
which such proceedings are pending.
1. Ins. by Act 9 of 1995, s. 11 (w.e.f. 25-1-1995).
2. Subs. by Act 32 of 1999, s. 12, for “Board” (w.e.f. 16-12-1999).
3. Subs. by s. 12, ibid., for “section 20” (w.e.f. 16-12-1999).
4. Ins. by Act 9 of 1995, s. 12 (w.e.f. 25-1-1995).
5. Subs. by s. 13, ibid., for section 24 (w.e.f. 25-1-1995).
6. Ins. by Act 13 of 2018, s. 187 (w.e.f. 8-3-2019).
7. Subs. by Act 59 of 2002, s. 28, for “one year, or with fine, or with both” (w.e.f. 29-10-2002).
8. Ins. by Act 13 of 2018, s. 187 (w.e.f. 8-3-2019).
9. The words “of his” omitted by s. 187, ibid. (w.e.f. 8-3-2019).
10. Subs. by Act 59 of 2002, s. 28, for certain words (w.e.f. 29-10-2002).
11. Ins. by s. 29, ibid. (w.e.f. 29-10-2002).
28
24B. Power to grant immunity.—(1) The Central Government may, on recommendation by the
Board, if the Central Government is satisfied, that any person, who is alleged to have violated any of the
provisions of this Act or the rules or the regulations made thereunder, has made a full and true disclosure
in respect of the alleged violation, grant to such person, subject to such conditions as it may think fit to
impose, immunity from prosecution for any offence under this Act, or the rules or the regulations made
thereunder or also from the imposition of any penalty under this Act with respect to the alleged violation:
Provided that no such immunity shall be granted by the Central Government in cases where the
proceedings for the prosecution for any such offence have been instituted before the date of receipt of
application for grant of such immunity:
Provided further that recommendation of the Board under this sub-section shall not be binding upon
the Central Government.
(2) An immunity granted to a person under sub-section (1) may, at any time, be withdrawn by the
Central Government, if it is satisfied that such person had, in the course of the proceedings, not complied
with the condition on which the immunity was granted or had given false evidence, and thereupon such
person may be tried for the offence with respect to which the immunity was granted or for any other
offence of which he appears to have been guilty in connection with the contravention and shall also
become liable to the imposition of any penalty under this Act to which such person would have been
liable, had not such immunity been granted.]
25. Exemption from tax on wealth and income.—Notwithstanding anything contained in the
Wealth-tax Act, 1957 (27 of 1957), the Income-tax Act, 1961 (43 of 1961) or any other enactment for the
time being in force relating to tax on wealth, income, profits or gains—
(a) the Board;
(b) the existing Securities and Exchange Board from the date of its constitution to the date of
establishment of the Board,
shall not be liable to pay wealth-tax, income-tax or any other tax in respect of their wealth, income,
profits or gains derived.
26. Cognizance of offences by courts.—(1) No court shall take cognizance of any offence
punishable under this Act or any rules or regulations made thereunder, save on a complaint made by the
Board 1***.
2* * * * *
3
[26A. Establishment of Special Courts.—(1) The Central Government may, for the purpose of
providing speedy trial of offences under this Act, by notification, establish or designate as many Special
Courts as may be necessary.
(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government
with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be
appointed is working.
(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is,
immediately before such appointment, holding the office of a Sessions Judge or an Additional Sessions
Judge, as the case may be.
26B. Offences triable by Special Courts.—Notwithstanding anything contained in the Code of
Criminal Procedure, 1973 (2 of 1974), all offences under this Act committed prior to the date of
commencement of the Securities Laws (Amendment) Act, 2014 (27 of 2014) or on or after the date of
such commencement, shall be taken cognizance of and tried by the Special Court established for the area
in which the offence is committed or where there are more Special Courts than one for such area, by such
one of them as may be specified in this behalf by the High Court concerned.
1. The words “with the previous sanction of the Central Government” omitted by Act 9 of 1995, s. 14 (w.e.f. 25-1-1995).
2. Sub-section (2) omitted by Act 27 of 2014, s. 19 (w.e.f. 18-7-2013).
3. Ins. by s. 20, ibid. (w.e.f. 18-7-2013).
29
26C. Appeal and revision.—The High Court may exercise, so far as may be applicable, all the
powers conferred by Chapters XXIX and XXX of the Code of Criminal Procedure, 1973 (2 of 1974) on a
High Court, as if a Special Court within the local limits of the jurisdiction of the High Court were a Court
of Session trying cases within the local limits of the jurisdiction of the High Court.
26D. Application of Code to proceedings before Special Court.—(1) Save as otherwise provided
in this Act, the provisions of the Code of Criminal Procedure, 1973 (2 of 1974) shall apply to the
proceedings before a Special Court and for the purposes of the said provisions, the Special Court shall be
deemed to be a Court of Session and the person conducting prosecution before a Special Court shall be
deemed to be a Public Prosecutor within the meaning of clause (u) of section 2 of the Code of Criminal
Procedure, 1973 (2 of 1974).
(2) The person conducting prosecution referred to in sub-section (1) should have been in practice as
an advocate for not less than seven years or should have held a post, for a period of not less than seven
years, under the Union or a State, requiring special knowledge of law.
26E. Transitional provisions.—Any offence committed under this Act, which is triable by a Special
Court shall, until a Special Court is established, be taken cognizance of and tried by a Court of Session
exercising jurisdiction over the area, notwithstanding anything contained in the Code of Criminal
Procedure, 1973 (2 of 1974):
Provided that nothing contained in this section shall affect the powers of the High Court under
section 407 of the Code of Criminal Procedure, 1973 (2 of 1974) to transfer any case or class of cases
taken cognizance by a Court of Session under this section.]
27. 1
[Contravention by companies].—(1) Where 2
[a contravention of any of the provisions of this
Act or any rule, regulation, direction or order made thereunder] has been committed by a company, every
person who at the time the 3
[contravention] was committed was in charge of, and was responsible to, the
company for the conduct of the business of the company, as well as the company, shall be deemed to be
guilty of the offence and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any
punishment provided in this Act, if he proves that the 4
[contravention] was committed without his
knowledge or that he had exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where an 4
[contravention] under this Act
has been committed by a company and it is proved that the 4
[contravention] has been committed with the
consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary
or other officer of the company, such director, manager, secretary or other officer shall also be deemed to
be guilty of the 4
[contravention] and shall be liable to be proceeded against and punished accordingly.
Explanation.—For the purposes of this section,—
(a) “company” means any body corporate and includes a firm or other association of individuals;
and
(b) “director”, in relation to a firm, means a partner in the firm.
28. [Power to exempt.] Omitted by the Securities Laws (Amendment) Act, 1995 (9 of 1995), s. 15
(w.e.f. 25-1-1995).
4
[28A. Recovery of amounts.—(1) If a person fails to pay the penalty imposed 5
[under this Act] or
fails to comply with any direction of the Board for refund of monies or fails to comply with a direction of
disgorgement order issued under section 11B or fails to pay any fees due to the Board, the Recovery
Officer may draw up under his signature a statement in the specified form specifying the amount due
from the person (such statement being hereafter in this Chapter referred to as certificate) and shall
proceed to recover from such person the amount specified in the certificate by one or more of the
following modes, namely:—
(a) attachment and sale of the person’s movable property;
1. Subs. by Act 13 of 2018, s. 188, for marginal heading (w.e.f. 8-3-2019).
2. Subs. by s. 188, ibid., for “an offence under this Act” (w.e.f. 8-3-2019).
3. Subs. by s. 188, ibid., for “offence” (w.e.f. 8-3-2019).
4. Ins. by Act 27 of 2014, s. 21 (w.e.f. 18-7-2013).
5. Subs. by Act 13 of 2018, s. 189, for “by the adjudicating officer” (w.e.f. 8-3-2019).
30
(b) attachment of the person’s bank accounts;
(c) attachment and sale of the person’s immovable property;
(d) arrest of the person and his detention in prison;
(e) appointing a receiver for the management of the person's movable and immovable properties,
and for this purpose, the provisions of sections 220 to 227, 228A, 229, 232, the Second and Third
Schedules to the Income-tax Act, 1961 (43 of 1961) and the Income-tax (Certificate Proceedings) Rules,
1962, as in force from time to time, in so far as may be, apply with necessary modifications as if the said
provisions and the rules made thereunder were the provisions of this Act and referred to the amount due
under this Act instead of to income-tax under the Income-tax Act, 1961.
Explanation 1.— For the purposes of this sub-section, the person's movable or immovable property or
monies held in bank accounts shall include any property or monies held in bank accounts which has been
transferred directly or indirectly on or after the date when the amount specified in certificate had become
due, by the person to his spouse or minor child or son's wife or son's minor child, otherwise than for
adequate consideration, and which is held by, or stands in the name of, any of the persons aforesaid; and
so far as the movable or immovable property or monies held in bank accounts so transferred to his minor
child or his son's minor child is concerned, it shall, even after the date of attainment of majority by such
minor child or son's minor child, as the case may be, continue to be included in the person's movable or
immovable property or monies held in bank accounts for recovering any amount due from the person
under this Act.
Explanation 2.—Any reference under the provisions of the Second and Third Schedules to the
Income-tax Act, 1961 (43 of 1961) and the Income-tax (Certificate Proceedings) Rules, 1962 to the
assessee shall be construed as a reference to the person specified in the certificate.
Explanation 3.—Any reference to appeal in Chapter XVIID and the Second Schedule to the
Income-tax Act, 1961 (43 of 1961), shall be construed as a reference to appeal before the Securities
Appellate Tribunal under section 15T of this Act.
1
[Explanation 4. —The interest referred to in section 220 of the Income-tax Act, 1961 shall
commence from the date the amount became payable by the person.]
(2) The Recovery Officer shall be empowered to seek the assistance of the local district
administration while exercising the powers under sub-section (1).
(3) Notwithstanding anything contained in any other law for the time being in force, the recovery of
amounts by a Recovery Officer under sub-section (1), pursuant to non-compliance with any direction
issued by the Board under section 11B, shall have precedence over any other claim against such person.
(4) For the purposes of sub-sections (1), (2) and (3), the expression ‘‘Recovery Officer’’ means any
officer of the Board who may be authorised, by general or special order in writing, to exercise the powers
of a Recovery Officer.]
2
[28B. Continuance of proceedings.—(1) Where a person dies, his legal representative shall be
liable to pay any sum which the deceased would have been liable to pay, if he had not died, in the like
manner and to the same extent as the deceased:
Provided that, in case of any penalty payable under this Act, a legal representative shall be liable only
in case the penalty has been imposed before the death of the deceased person.
(2) For the purposes of sub-section (1),—
(a) any proceeding for disgorgement, refund or an action for recovery before the Recovery
Officer under this Act, except a proceeding for levy of penalty, initiated against the deceased before
his death, shall be deemed to have been initiated against the legal representative, and may be
continued against the legal representative from the stage at which it stood on the date of the death of
the deceased and all the provisions of this Act shall apply accordingly;
(b) any proceeding for disgorgement, refund or an action for recovery before the Recovery
Officer under this Act, except a proceeding for levy of penalty, which could have been initiated
1. The Explanation ins. by Act 21 of 2019, s. 42 and the Second Schedule (w.e.f. 21-2-2019).
2. Ins. by Act 13 of 2018, s. 190 (w.e.f. 8-3-2019).
31
against the deceased if he had survived, may be initiated against the legal representative and all the
provisions of this Act shall apply accordingly.
(3) Every legal representative shall be personally liable for any sum payable by him in his capacity as
legal representative if, while his liability for such sum remains undischarged, he creates a charge on or
disposes of or parts with any assets of the estate of the deceased, which are in, or may come into, his
possession, but such liability shall be limited to the value of the asset so charged, disposed of or parted
with.
(4) The liability of a legal representative under this section shall be limited to the extent to which the
estate of the deceased is capable of meeting the liability.
Explanation.—For the purposes of this section “legal representative” means a person who in law
represents the estate of a deceased person, and includes any person who intermeddles with the estate of
the deceased and where a party sues or is sued in a representative character, the person on whom the
estate devolves on the death of the party so suing or sued.]
1
[28C. Powers of Board not to apply to International Financial Services Centre.—
Notwithstanding anything contained in any other law for the time being in force, the powers exercisable
by the Board under this Act,—
(a) shall not extend to an International Financial Services Centre set up under sub-section (1) of
section 18 of the Special Economic Zones Act, 2005 (28 of 2005);
(b) shall be exercisable by the International Financial Services Centres Authority established
under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,
in so far as regulation of financial products, financial services and financial institutions that are permitted
in the International Financial Services Centres are concerned.]
29. Power to make rules.—(1) The Central Government may, by notification, make rules for
carrying out the purposes of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may
provide for all or any of the following matters, namely:—
(a) the term of office and other conditions of service of the Chairman and the members under
sub-section (1) of section 5;
(b) the additional functions that may be performed by the Board under section 11;
2* * * * *;
(d) the manner in which the accounts of the Board shall be maintained under section 15;
3
[(da) the manner of inquiry under sub-section (1) of section 15-I;
(db) the salaries and allowances and other terms and conditions of service of the 4
[Presiding
Officers, Members] and other officers and employees of the Securities Appellate Tribunal under
section 15-O and sub-section (3) of section 15S;
(dc) the procedure for the investigation of misbehaviour or incapacity of the 5
[Presiding Officers,
or other Members] of the Securities Appellate Tribunal under sub-section (3) of section 15Q;
(dd) the form in which an appeal may be filed before the Securities Appellate Tribunal under
section 15T and the fees payable in respect of such appeal;]
(e) the form and the manner in which returns and report to be made to the Central Government
under section 18;
(f) any other matter which is to be, or may be, prescribed, or in respect of which provision is to
be, or may be, made by rules.
30. Power to make regulations.—(1) The Board may, 6*** by notification, make regulations
consistent with this Act and the rules made thereunder to carry out the purposes of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may
provide for all or any of the following matters, namely:—
1. Ins. by Act 50 of 2019, s. 33 and the second Schedule (w.e.f. 1-10-2020).
2. Clause (c) omitted by Act 9 of 1995, s. 16 (w.e.f. 25-1-1995).
3. Ins. by s. 16, ibid. (w.e.f. 25-1-1995).
4. Subs. by Act 59 of 2002, s. 31, for “Presiding Officers” (w.e.f. 29-10-2002).
5. Subs. by s. 31, ibid., for “Presiding Officers” (w.e.f. 29-10-2002).
6. The words “with the previous approval of the Central Government” omitted by Act 9 of 1995, s. 17 (w.e.f. 25-1-1995).
32
(a) the times and places of meetings of the Board and the procedure to be followed at such
meetings under sub-section (1) of section 7 including quorum necessary for the transaction of
business;
(b) the term and other conditions of service of officers and employees of the Board under
sub-section (2) of section 9;
1
[(c) the matters relating to issue of capital, transfer of securities and other matters incidental
thereto and the manner in which such matters shall be disclosed by the companies under section 11A;
2
[(ca) the utilisation of the amount credited under sub-section (5) of section 11;
(cb) the fulfilment of other conditions relating to collective investment scheme under
sub-section (2A) of section 11AA;]
(d) the conditions subject to which certificate of registration is to be issued, the amount of fee to
be paid for certificate of registration and the manner of suspension or cancellation of certificate of
registration under section 12;]
3
[(da) the terms determined by the Board for settlement of proceedings under sub-section (2) and
the procedure for conducting of settlement proceedings under sub-section (3) of section 15JB;
(db) any other matter which is required to be, or may be, specified by regulations or in respect of
which provision is to be made by regulations.]
31. Rules and regulations to be laid before Parliament.—Every rule and every regulation made
under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it
is in session, for a total period of thirty days which may be comprised in one session or in two or more
successive sessions, and if, before the expiry of the session immediately following the session or the
successive sessions aforesaid, both Houses agree in making any modification in the rule or regulation or
both Houses agree that the rule or regulation should not be made, the rule or regulation shall thereafter
have effect only in such modified form or be of no effect, as the case may be; so, however, that any such
modification or annulment shall be without prejudice to the validity of anything previously done under
that rule or regulation.
32. Application of other laws not barred.—The provisions of this Act shall be in addition to, and
not in derogation of, the provisions of any other law for the time being in force.
[33. Amendment of certain enactments.] Rep. by the Repealing and Amending Act, 2001
(30 of 2001), s. 2 and the First Schedule (w.e.f. 3-9-2001).
34. Power to remove difficulties.—(1) If any difficulty arises in giving effect to the provisions of
this Act, the Central Government may, by order, published in the Official Gazette, make such provisions
not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty:
Provided that no order shall be made under this section after the expiry of five years from the
commencement of this Act.
(2) Every order made under this section shall be laid, as soon as may be after it is made, before each
House of Parliament.
4
[34A. Validation of certain acts.—Any act or thing done or purporting to have been done under the
principal Act, in respect of calling for information from, or furnishing information to, other authorities,
whether in India or outside India, having functions similar to those of the Board and in respect of
settlement of administrative and civil proceedings, shall, for all purposes, be deemed to be valid and
effective as if the amendments made to the principal Act had been in force at all material times.]
35. Repeal and saving.—(1) The Securities and Exchange Board of India Ordinance, 1992
(Ord. 5 of 1992), is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance, shall be
deemed to have been done or taken under the corresponding provisions of this Act.
1. Subs. by Act 9 of 1995, s. 17, for clause (c) (w.e.f. 25-1-1995).
2. Ins. by Act 27 of 2014, s. 22 (w.e.f. 18-7-2013).
3. Ins. by s. 22, ibid. (w.e.f. 18-7-2013).
4. Ins. by s. 23, ibid. (w.e.f. 18-7-2013).
33
[THE SCHEDULE.] Rep. by the Repealing and Amending Act, 2001 (30 of 2001), s. 2 and the First
Schedule (w.e.f. 3-9-2001).